As long as the travel trailer has sleeping,
cooking, and toilet facilities you can enter the interest on the loan as a first or second home.
The sales tax you paid on the travel trailer can be added to the amount of sales tax from the IRS tables as a "major purchase" in the itemized deductions if you elect to use the sales tax rather than the state income tax deduction.
To enter the interest on the trailer, please follow these steps:
- Click on Federal > Deductions
& Credits.
- In the Your Home section,
click on the Start/Revisit box next to Mortgage Interest,
Refinancing, and Insurance. [See Screenshot #1, below.)
- If you haven't entered any
mortgage information yet, just proceed through the screens, entering the
requested information on your first mortgage. When finished, you
will be brought to the Mortgage Deduction summary screen.
- If you've already entered
information on one loan, you will be brought to the Mortgage deduction
summary screen. Click the Add a Lender box on the Mortgage
deduction summary screen. [Screenshot #2]
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