What can I expect when renting my RV? How to depreciate it and what type of depreciation? What expenses can I deduct?

[Anita01]

It depends on the use of the RV.  For personal use, you cannot deduct anything for a rented RV.

[LinaJ2018]

If you rent it as a renter, it is considered as personal use, then no deductions.  If you rent it to tenants, you would treat it as a rental and report it on a Form Schedule E.  Per IRS, it is depreciated over five years. 

You could deduct any other rental expenses that you pay for the RV, such as mortgage interest, insurance, real estate and any utilities. To report a rental, you would need to upgrade to TurboTax Premier edition.

[Rlwright517]

I am aware of the 5 year depreciation for RV Rental.  However, Turbo Tax is currently showing that I ma to use the 27.5 year depreciation.  What am I doing wrong?

[Critter-3]

You are in the wrong section ... do not use the Sch E for residential rental real property. 

Instead you will use the Sch C because you are in the business of renting out personal property that is not real estate.  When you enter the RV as an asset.  

[Rlwright517]

I have seen in other locations that it should be entered on Schedule E, since I do not provide full services.  Can I use Schedule E and still get the 5 yr depreciation.  If so, how would I enter it.

[Mike9241]

is the RV being situated at a fixed site and used as housing by the tenants?  or are you renting out an RV that people take on the road?  what services do you provide. 

[Rlwright517]

I rent it to families for short vacations on the road.  I was able to get the system to allow 5yr depreciation by calling it a trailer

[jimmystick11]

I cannot find anywhere to call it a Trailer to allow for the 5 year depreciation.  Can you explain where you found that?

[Critter-3]

If it has a motor and wheels then call it a vehicle to get the 5 year option. 

[scottywatty]

Is the 5 year depreciation MACRS 5 YR 200%, MACRS 5 YR 150%, or Straight Line HY, Usable Life 5 years???

[JamesG1]

You will report the income under an IRS Schedule C Profit and Loss from Business, so you will select Self-employment income and expenses under Wages & Income.

You will report the motor home as a Vehicle but the key issue is the weight of the vehicle.  There are several options under Select the type of vehicle and they are based upon weight.

See examples here.

After you know what weight category the Vehicle fits in, then you find out what depreciation options that you will have.

@scottywatty