We have a fifth wheel trailer. Can we deduct the interest on the loan as a second home?

millerlodge — Thu, 06 Jun 2019 05:21:40 GMT

You may be able to deduct the interest on the loan of you...

PandoraS — Thu, 06 Jun 2019 05:21:41 GMT

You may be able to deduct the interest on the loan of your fifth wheel trailer for federal tax purposes. A boat or a recreational vehicle can be either your main or secondary residence, entitling you to take advantage of the same tax deductions as a homeowner of a typical house.

The Internal Revenue Service (IRS) defines a home broadly, allowing the term to encompass:

Houses
Condominiums
Cooperatives
Mobile Homes
RVs
House Trailers
Boats

The test the IRS applies is simply that the property must have all three:

sleeping, cooking and toilet facilities

If so, it can be treated as a primary or secondary residence for tax purposes.

topic We have a fifth wheel trailer. Can we deduct the interest on the loan as a second home? in Deductions & credits

We have a fifth wheel trailer. Can we deduct the interest on the loan as a second home?

You may be able to deduct the interest on the loan of you...