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lydialaska
New Member

Do I not get to deduct interest paid on my Kubota tractors or on my RV?

 
3 Replies
SweetieJean
Level 15

Do I not get to deduct interest paid on my Kubota tractors or on my RV?

Is either used in your business?

VolvoGirl
Level 15

Do I not get to deduct interest paid on my Kubota tractors or on my RV?

Only if used in a business.  Sorry only mortgage interest and some investment interest is deductible on Schedule A now.  Other interest like credit card and loans went out many many years ago.  Like in the 80s or 90s?  A RV might qualify as mortgage interest. 

Mike9241
Level 15

Do I not get to deduct interest paid on my Kubota tractors or on my RV?

if the RV isn't used in business for the interest to be deductible as home mortgage interest it must be a first or second home. if must have a functioning kitchen and bathroom and sleeping quarters. the bathroom must have toilet, sink and bathing facilities. the kitchen must have a stove and fridge. the RV must be security for the mortgage. 

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