How do i claim my recreational rv travel trailer as a second home

[AJW56]

Thank you so much for this info. I had heard that the interest paid was not deductible this year. I will notify my friend of the good news.

[Shawnajk]

Hello, I am thinking of buying a place at an RV park in the woods. I need to be able to get a home loan and write it off on my taxes if that’s possible? Is there a certain amount of feet that a camper needs to be before I can do that? I live in Washington state, currently have a home, but want to sign it over to my son, and buy a place at Lake Merwin Campers Hideaway in Yacolt  Washington. I heard that a camper had to be at least a certain size before you can use it as a home write off for taxes, is that true? Also, any pros or cons of doing this? I listed the name of the place in case someone wants to check it out and help me with my questions. I would be there the max days allowed each year, and still have my bedroom at my current home with my son, but wouldn’t have it in my name at all because I can only have one HUD, Section 184 Native American home loan. I also have to check to see if I could even use that loan for something like this (camper), but it would for sure have to be considered a home to even use it for that loan anyways. The place I’m looking at is approx $55,000, private sales from a friends parents. Any help would be appreciated since I don’t know anything or what I’m doing at all. 😂🤷‍♀️ Thank you so very much! 

[Shawnajk]

I have a similar situation. I want to buy a lot at an RV park, and a camper that sits on it. It is sort of like a wooded resort. There are yearly dues, at the lake for upkeep, and amenities etc, but the lot and the camper would be mine so I need to get a loan. It’s such a cool place, you can build on your camper, the only requirement is that there is a camper on the lot, then people build onto it and some look even like a home and you can’t tell there’s a camper anywhere. Then there are others that just have the camper etc. There are 1500 places there. The issue is that I need to know if there’s a certain length of a camper that it has to be at least to be considered a home and able to write it off on my taxes. Also, and negatives for doing this, pros and cons. I have a home right now that I will sign over to my son because I can only have one loan in my name and I bought my current home to give to him since he’s my only child. He now has a better job than I do and can have the house. It is the HUD, section 184 Native American home loan, and I would have to check to see if I could even use that to do this at all. Hopefully so, but if not, does anyone have any info or recommendations as to which loan would be best to buy something like this? I can retire on May 1, 2022, and I need to go as cheap as possible because my income will be cut in half. Thank you for any info 😊❤️

[LeonardS]

If your travel trailer has sleeping, cooking, and toilet facilities  it can be a second home.  You can deduct interest paid on a loan used to purchase your RV.  The loan for the RV does not have to be a "mortgage" it can be any type of loan. 

[mrbilll]

Which additional forms do I need to fill out to add my RV as a second home and get the interest deduction?

[CatinaT1]

Your can only deduct mortgage interest on a residence. An RV can be considered a residence if it has sleeping, cooking and toilet facilities.

If your vehicle qualifies, your enter it in the same area you enter interest entered on form 1098. 

[mrbilll]

So, do I just include a 2nd Schedule A with no other forms to be filled out?

[CatinaT1]

No, you include the interest with any other mortgage interest you have. Your enter it in the same area you enter interest entered on form 1098. 

[eetison]

We purchased a trailer trailer last year but weren't allow to claim as a second. 

Can you tell me why?

[AmyC]

I don't know why you could not claim if you meet the qualifications. Please see line 8 instructions on page A-8 of Instructions for Schedule A (Form 1040)

@eetison 

[Mwelby052]

Can I claim the amount to store my travel trailer and other expenses as a second home?

[DoninGA]

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@Mwelby052  wrote:

Can I claim the amount to store my travel trailer and other expenses as a second home?

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No.  Those are not deductible residential expenses.  You can deduct interest payments on the loan and any personal property taxes you paid for the RV.

[DawnC]

No.  You're allowed to deduct the interest on a loan secured by your main home (where you ordinarily live most of the time) and a second home.

A mobile home, RV, house trailer, or houseboat that has sleeping, cooking, and toilet facilities counts as a main or second home, and as long as it meets all the other requirements for deducting mortgage interest, you can claim the interest like an immovable home.   However, storage expenses are personal expenses and are not deductible on your personal tax return.  @Mwelby052

[Capt1njohn]

I purchased an RV in 2020 and got a loan for it and I paid $78.00 in interest last year. The  bank did not send me a 1098 form because it was less than $600 interest paid. I have a regular December statement that shows the total interest paid in 2020. Can I enter that in the 1098 form that comes up in TurboTax? or is there another way I am supposed to do that? I can put the original loan date in the box that calls for loan origination date. I cant find another place to enter all the information that looks right.

Thanks John D.

[Cynthiad66]

Yes.  Just enter the form 1098 that comes up in TurboTax