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thisismenow
New Member

Can a simple loan on a motorhome count as a first or second home for tax's ?

Is a simple loan for a motorhome the same as a mortgage. Can I take it off my income tax as a first home or second home. ?

2 Replies
DoninGA
Level 15

Can a simple loan on a motorhome count as a first or second home for tax's ?

A motorhome can be considered a personal primary or second residence.  As such you can deduct the interest on a loan that is secured by the motorhome.  The interest paid on the loan is reported as a Mortgage Interest itemized deduction on federal tax return Form 1040 Schedule A. 

Hal_Al
Level 15

Can a simple loan on a motorhome count as a first or second home for tax's ?

From IRS Publication 936: “For you to take a home mortgage interest deduction, your debt must be secured by a qualified home. This means your main home or your second home. A home includes a house, condominium, cooperative, mobile home, house trailer, boat, or similar property that has sleeping, cooking, and toilet facilities.”

Also see this TurboTax FAQ: <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1900916-is-mortgage-interest-paid-on-an-rv-or-mobile-home-tax-dedu...>
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