Can I deduct the interest from both of our travel trailers?

[DenRS]

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?

[DanO · Accepted solution]

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.