It depends but if the loan was
secured by the camper (and your camper has sleeping, cooking and toilet facilities) and
you paid interest on this loan in 2016, you will be able to deduct this
interest as interest on a second home. However, if your camper does not have all of these facilities, then this loan interest would be considered nondeductible personal interest according to the IRS.
You can put this
interest expense under your home section because the IRS considers this a
second home for tax purposes.
To enter your camper Interest in TurboTax Online
or Desktop, please follow these steps:
- Once you are in your tax
return, click on the “Federal Taxes” tab ("Personal" tab in
TurboTax Home & Business)
- Next click on “Deductions and
credits”
- Next click on "jump to
full list" or “I’ll choose what I work on”
- Scroll down the screen until
to come to the section “Your Home”
- Choose "show more",
then Mortgage Interest and Refinancing and follow the onscreen
instructions
- If you already entered your
home mortgage interest, just select "add a lender
It is OK to show your camper loan interest under
the 1098 section of Schedule A. If you are contacted by the IRS, you will just need to provide an explanation
of your situation (that this was for your camper loan interest but you did not receive a 1098 and
provide the IRS with the details of this loan)
