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sallybob
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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MinhT
Expert Alumni

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).

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13 Replies
roxie1824
New Member

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
re2boys
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.
MinhT
Expert Alumni

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).

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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email
New Member

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)?
jmceuin
New Member

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.
re2boys
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.
jmceuin
New Member

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
ellenmason
New Member

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?
jmceuin
New Member

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.
stephs_2125
New Member

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

I have pretty much the same question. My RV (travel trailer with bathroom, kitchen, bedrooms, etc.) is financed through my credit union.  They did not send out a 1098 however I can lookup my account on the  CU website and see my interest paid for 2018. Can I just use that number when doing my taxes?
jmceuin
New Member

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

Yes. Print out that information as backup and keep in your tax file. They will not send a 1098. This is the instruction from Turbo tax on how to handle it.
jmattia33
New Member

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

Where do should I input the interest from my RV loan? Same area as my home mortgage interest?
ttowns2
New Member

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

is RV secured loan
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