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posted Jun 5, 2019 11:31:25 PM

Is interest on a RV loan (2nd home, yes sleeping, toilet and kitchen) deductible if it is not secured?

Is interest on a RV loan (2nd home, yes sleeping, toilet and kitchen) deductible if it is not secured? When I toggle no, then it is not deductible; why?

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Level 15
Jun 5, 2019 11:31:27 PM

No, it's not deductible. The reason it's not deductible is that the tax law says that home mortgage interest is only deductible if the loan is secured by the home.