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Level 1

For tax year 2018 will interest on a RV motor home be deductible if the loan qualifies as a second home?

 
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Level 6

For tax year 2018 will interest on a RV motor home be deductible if the loan qualifies as a second home?

Yes, in 2018 interest on your RV motor home will still qualify for the mortgage interest deduction if the RV qualifies as a second home. The only change is that mortgages are limited to $750,000 (instead of $1,000,000 in 2017).

13 Replies
Level 1

For tax year 2018 will interest on a RV motor home be deductible if the loan qualifies as a second home?

HOW DO I RECORD THE INTEREST PAID ON MY TRAVEL TRAILER IF I DID NOT RECEIVE A 1098
Level 9

For tax year 2018 will interest on a RV motor home be deductible if the loan qualifies as a second home?

Same area as a home mortgage loan, but only if the RV meets the requirements of a second home (permanent cooking, toileting and sleeping facilities.  And the trailer is collateral on the loan.
Level 6

For tax year 2018 will interest on a RV motor home be deductible if the loan qualifies as a second home?

Yes, in 2018 interest on your RV motor home will still qualify for the mortgage interest deduction if the RV qualifies as a second home. The only change is that mortgages are limited to $750,000 (instead of $1,000,000 in 2017).

Level 1

For tax year 2018 will interest on a RV motor home be deductible if the loan qualifies as a second home?

Would you still be eligible for this deduction if the RV is not motorized (ie, a travel trailer / caravan)?
Level 1

For tax year 2018 will interest on a RV motor home be deductible if the loan qualifies as a second home?

I would like to know the answer as stated above if the RV is a travel trailer that has all qualifications but does not have a motor.
Level 9

For tax year 2018 will interest on a RV motor home be deductible if the loan qualifies as a second home?

The mortgage or loan interest would be deductible if used to purchase a second home.  The loan MUST be secured by the second home, ie, if you miss a payment the lender can seize the home.   A home must contain permanent sleeping, cooking, and toilet facilities.  A motor is not required. Some travel trailers will qualify, some won't.
Level 1

For tax year 2018 will interest on a RV motor home be deductible if the loan qualifies as a second home?

How do we determine if they will or will not qualify? Loan is secured by TT. Has all those items listed. Grand Design XLS 21BHE
Level 1

For tax year 2018 will interest on a RV motor home be deductible if the loan qualifies as a second home?

What if I do not have a 1098 for the interest on the RV?
Level 1

For tax year 2018 will interest on a RV motor home be deductible if the loan qualifies as a second home?

I see no where in the relevant document where it says anything about a motor. <a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/p936.pdf">https://www.irs.gov/pub/irs-pdf/p936.pdf</a> The only issue is my loan by the bank is called an installment loan but it has all the same structure and arrangements of a mortgage so trying to figure the 1098 issue.