DawnC
Expert Alumni

Deductions & credits

What do you need to know?  You're allowed to deduct the interest on a loan secured by your main home (where you ordinarily live most of the time) and a second home.

 

A mobile home, RV, house trailer, or houseboat that has sleeping, cooking, and toilet facilities counts as a main or second home, and as long as it meets all the other requirements for deducting mortgage interest, you can claim the interest like an immovable home.

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