NateTheGrEAt
Expert Alumni

Get your taxes done using TurboTax

Hi @Mr Smitty - congrats on your retirement and new motorhome, and thanks for chatting with us today.

 

Deductions related to the purchase of a motor home would potentially include sales tax on the purchase of the home, personal property tax (if your state charges one), and mortgage interest if the home qualifies as a second home. However, you stated that you paid cash for the home and did not finance it, so that last item wouldn't apply in your particular case.

 

Storage fees are a personal expense and are not deductible.

 

Is the motor home owned in a single member LLC owned by you alone? If so, this entity is considered a disregarded entity by the IRS unless you elected to have it taxed as a corporation. As a disregarded entity the taxes paid could be reported on your personal tax return.

 

I hope this information was helpful!

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