RV Interest Deduction Entry

[wkgreen1]

Can you deduct the interest paid on a Motorhome (RV).  If yes, under what do you list it on the TurboTax Software.  I do not have any form from Bank of America but a letter.  I listed it under Deductions & Credits Tab, then Cars and Other Things You Own and then under the Car Loan Interest.  Is this correct?

[CatinaT1]

Yes, you can deduct the interest paid on a Motorhome (RV), but NO, it doesn't go under "Car Loan Interest." The IRS treats a qualified RV as a Second Home.

For your Motorhome to qualify, it has to have sleeping, cooking, and toilet facilities.

The bank won't send you a form but you enter it manually as a home loan.

1. Go to the Deductions & Credits tab.
2. Find the section for "Your Home" and select Mortgage Interest and Refinancing (Form 1098).
3. Even though you don't have a 1098, click "Yes" when asked if you paid any home loans.
4. When asked for the lender's name, enter "Bank of America (RV)".
5. On the screen where it asks for Form 1098 details, enter the interest amount from your letter.
6. TurboTax will ask if this is a boat or RV; select Yes.

Under the "Cars and Other Things You Own" section you can deduct the Personal Property Tax or Registration Fees you paid to the DMV for the RV (and any other vehicles you own), as those are separate from the loan interest.

[dfergy]

On the Home and Business desktop version of the software, I do not have a step 6. The choices on the next page are primary, secondary homes or other unsecured.  It does not let me enter the information without a 1098, or at least it looks like I am confirming I have a 1098.  Am I selecting the wrong option somewhere?

[MonikaK1]

The 2025 version of TurboTax Desktop I reviewed doesn't directly ask if the property is an RV in the Mortgage Interest section.  At the entry screen, "Let's get the details from your 1098", there is a link you can click, "What if I don't have my 1098?". The following explanation appears if you click on the link:

"That's OK. You can get your mortgage info by going to your lender's website. Other documents, like your monthly mortgage bills and your closing disclosure (or HUD-1), will also have some of this info...". and other info relating to 1098's. 

Below this explanation, another link appears, "Are there exceptions?" Click that and more explanations appear, including "If you have a loan on an RV, travel trailer, tiny home on wheels, or a boat that you use as a home, your lender won't send you a 1098, but you might still be able to claim this interest." 

If you have a qualifying RV, you can still enter the interest in the Mortgage Interest section. 

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.

See IRS Publication 936 for more information on mortgage interest deductions.

@dfergy

@wkgreen1 

[dfergy]

Thank you very much for your reply in this season when tax experts are super busy. My concern came from the screen two steps later when I had to answer is this 1098 your most recent.  Not having one is not a choice, so I feel like I am saying I do have one.  If that is the correct path, then it works for me.  Thanks again.

[krisofalaska]

I have this question as well

[ale4]

When claiming the interest of an RV as a second home without a 1098, what about the section asking If your loan is secured by the property it was used to buy, build, or improve, you'll be able to deduct the interest.  Does an RV fit this?  I am assuming the RV is the property?

[DianeW777]

Yes. Your RV is considered your second home and it does fit into this category. The money was used to buy the RV.

@ale4 

[AmeliesUncle]

I am just adding one more thing that hasn't been mentioned in this thread:

In order to deduct the interest as your "residence" as was indicated above, it needs to be used at least 15 days in the year.

And if you also have a second home that you are claiming mortgage interest, you can only deduct the interest on one of the secondary homes (either the secondary home OR the RV).

I suspect that isn't a problem for most RV owners, but that requirement may affect some people.