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Do I not get to deduct interest paid on my Kubota tractors or on my RV?
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August 28, 2022
2:51 PM
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Deductions & credits
Only if used in a business. Sorry only mortgage interest and some investment interest is deductible on Schedule A now. Other interest like credit card and loans went out many many years ago. Like in the 80s or 90s? A RV might qualify as mortgage interest.
August 28, 2022
3:30 PM
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Deductions & credits
if the RV isn't used in business for the interest to be deductible as home mortgage interest it must be a first or second home. if must have a functioning kitchen and bathroom and sleeping quarters. the bathroom must have toilet, sink and bathing facilities. the kitchen must have a stove and fridge. the RV must be security for the mortgage.
August 28, 2022
4:31 PM
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