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INTEREST ON MOTORHOME DESTROYED BY TREE AND NEW INTEREST ON REPLACEMENT MOTORHOME

IN JULY OUR MOTORHOME WAS DESTROYED BY A TREE. WE PAID INTEREST ON THIS LOAN THAT WE WANT TO DEDUCT.  PLUS WE PURCHASED A NEW MOTORHOME THAT WE WANT TO WRITE OFF THE INTEREST.  HOW DO WE DO THIS WITH TWO LOANS? 

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2 Replies
KrisD15
Employee Tax Expert

INTEREST ON MOTORHOME DESTROYED BY TREE AND NEW INTEREST ON REPLACEMENT MOTORHOME

You can enter both 1098 forms that you have even if the loans each are on two separate homes, since each was your primary home at the time. 

 

Enter the older loan first, then the newer, but for each you would select primary home and original loan as long and the second loan was used only for the second motorhome.

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INTEREST ON MOTORHOME DESTROYED BY TREE AND NEW INTEREST ON REPLACEMENT MOTORHOME

ISSUE IS WE HAVE A PRIMARY HOME WITH INTEREST

 

MOTORHOME 1 WAS SECOND HOME (DESTROYED DURING HURRICANE IN HOUSTON IN JULY)

 

MOTORHOME 2 IS NOW OUR SECOND HOME 

 

ALL 3 HAVE INTEREST 

 

HOW DO WE PUT ALL 3 IN?

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