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Level 1

Can i claim interest on my RV/camper

 
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Level 1

Can i claim interest on my RV/camper

[UPDATED JANUARY, 2017]

A camper or Recreational Vehicle (RV) meets the IRS definition of a second home if it contains sleeping, bathroom and kitchen facilities.  Interest paid on a loan for the purchase of a recreational vehicle is therefore tax deductible as valid home interest on a second home.

For confirmation, please refer to IRS Publication 936, Page 4, left column, first paragraph, under the heading Qualified Home, here:

http://www.irs.gov/pub/irs-pdf/p936.pdf


"A home includes a house, condominium, cooperative,  mobile  home,  house trailer, boat, or similar property that has sleeping, cooking, and toilet facilities." (IRS Language from Publication 936)

So, if you're looking for a tax deduction related to your camper, that is one valid place where you can do so.  The other place is with respect to any sales taxes that you may have paid on the camper, if you purchased it new.

Either, or both, of these things can be, potentially, deducted on your tax return.  The TurboTax interview will walk you through the mechanical process for doing so, if you answer all of the questions in the (federal) general interview carefully.

For some additional help, or if you miss it in the main interview, here are the steps to go back and enter your camper / RV interest, in TurboTax Desktop (the Online process is similar, although the exact screens you see may vary somewhat):

1) Find the FEDERAL TAXES tab on your screen, and click the tab.

2) Find the DEDUCTIONS & CREDITS tab below that.  Click it.

3) Navigate to the EXPLORE ON MY OWN option (this may require you to click through one or two other screens beforehand).

4) You should arrive at a screen labeled YOUR 20XX DEDUCTIONS & CREDITS.

5) You should see a sub-group here labeled YOUR HOME.

6) Click the START button on the line in this sub-group that is labeled MORTGAGE INTEREST, REFINANCING & INSURANCE

7) Follow the rest of the TurboTax interview for this topic, treating your camper (RV / 5th Wheeler) as either your primary or secondary home for purposes of answering the TurboTax questions in this section

Note:  If the reader cannot follow the above instructions in TurboTax online, then there is an easy alternative.  To find the right place in the program to begin the appropriate interview screens, simply log into your online account, begin working on your tax return, and then type the text string "mortgage interest" into the Find / Search box near the top.  When the "Jump To" link appears beneath, click it and the program should take you where you need to go in the software.

Thanks for asking this question, and good luck to you!

Regards

10 Replies
Level 1

Can i claim interest on my RV/camper

[UPDATED JANUARY, 2017]

A camper or Recreational Vehicle (RV) meets the IRS definition of a second home if it contains sleeping, bathroom and kitchen facilities.  Interest paid on a loan for the purchase of a recreational vehicle is therefore tax deductible as valid home interest on a second home.

For confirmation, please refer to IRS Publication 936, Page 4, left column, first paragraph, under the heading Qualified Home, here:

http://www.irs.gov/pub/irs-pdf/p936.pdf


"A home includes a house, condominium, cooperative,  mobile  home,  house trailer, boat, or similar property that has sleeping, cooking, and toilet facilities." (IRS Language from Publication 936)

So, if you're looking for a tax deduction related to your camper, that is one valid place where you can do so.  The other place is with respect to any sales taxes that you may have paid on the camper, if you purchased it new.

Either, or both, of these things can be, potentially, deducted on your tax return.  The TurboTax interview will walk you through the mechanical process for doing so, if you answer all of the questions in the (federal) general interview carefully.

For some additional help, or if you miss it in the main interview, here are the steps to go back and enter your camper / RV interest, in TurboTax Desktop (the Online process is similar, although the exact screens you see may vary somewhat):

1) Find the FEDERAL TAXES tab on your screen, and click the tab.

2) Find the DEDUCTIONS & CREDITS tab below that.  Click it.

3) Navigate to the EXPLORE ON MY OWN option (this may require you to click through one or two other screens beforehand).

4) You should arrive at a screen labeled YOUR 20XX DEDUCTIONS & CREDITS.

5) You should see a sub-group here labeled YOUR HOME.

6) Click the START button on the line in this sub-group that is labeled MORTGAGE INTEREST, REFINANCING & INSURANCE

7) Follow the rest of the TurboTax interview for this topic, treating your camper (RV / 5th Wheeler) as either your primary or secondary home for purposes of answering the TurboTax questions in this section

Note:  If the reader cannot follow the above instructions in TurboTax online, then there is an easy alternative.  To find the right place in the program to begin the appropriate interview screens, simply log into your online account, begin working on your tax return, and then type the text string "mortgage interest" into the Find / Search box near the top.  When the "Jump To" link appears beneath, click it and the program should take you where you need to go in the software.

Thanks for asking this question, and good luck to you!

Regards

Level 1

Can i claim interest on my RV/camper

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Level 1

Can i claim interest on my RV/camper

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Level 20

Can i claim interest on my RV/camper

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Level 1

Can i claim interest on my RV/camper

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Level 1

Can i claim interest on my RV/camper

Since the new GOP tax legislation only interest on loans for expensive motorhomes is tax deductible, travel trailers, fifth wheels, and truck campers no longer qualify for the deduction.
Level 1

Can i claim interest on my RV/camper

Since the new GOP tax legislation only interest on loans for expensive motorhomes is tax deductible, travel trailers, fifth wheels, and truck campers no longer qualify for the deduction.
Level 20

Can i claim interest on my RV/camper

@daviddcl Do you have a citation in support of your statement?
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4175371-for-tax-year-2018-will-interest-on-a-rv-motor-home-be-dedu...>
Level 1

Can i claim interest on my RV/camper

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Level 12

Can i claim interest on my RV/camper

Those articles are completely wrong.  That phrase that they cite has NOTHING to do with the personal residence deduction.