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Can I deduct the interest from both of our travel trailers?
We paid interest on our old travel trailer for a few months in 2017 before it was paid off. At the end of the summer we traded it in for a new larger travel trailer with a new loan. We also have a mortgage on our primary home. Am I only allowed to deduct interest on one or both travel trailers?
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June 4, 2019
3:04 PM
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Deductions & credits
As long as the travel trailer has sleeping, cooking and toilet facilities then you can deduct interest as a second home.
You would be able to deduct interest on both travel trailers as long as you did not have them both as a second home at the same time.
If you had two trailers at the same time, then only one would get the interest deduction.
June 4, 2019
3:04 PM