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bmorocc
New Member

We don't own the home we live in but we have a camper but don't receive any 1098 for the camper loan

 
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DS30
New Member

We don't own the home we live in but we have a camper but don't receive any 1098 for the camper loan

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:

  1. Once you are in your tax return, click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
  2. Next click on “Deductions and credits”
  3. Next click on "jump to full list" or “I’ll choose what I work on”
  4. Scroll down the screen until to come to the section “Your Home”
  5. Choose "show more", then Mortgage Interest and Refinancing and follow the onscreen instructions
  6. 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)


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