Yes, a motorhome is considered a second home and the interest paid can be used as mortgage interest if you itemize your deductions, assuming your main home does not go over the threshold.
You will have to prorate the amount of deductible mortgage interest that represents the motorhome if there are loan proceeds used for other purposes.
The most common deductions are medical expense that is above 7.5% of your income, mortgage interest, property taxes and donations. The standard deductions are printed for you below for comparison.
For single taxpayers and married individuals filing separately, the Standard Deduction is $13,850 in 2023.
For married couples filing jointly is $27,700, and
For heads of households, the Standard Deduction is $20,800
If you're at least 65 years old or blind, you can claim an additional deduction in 2023 of:
- $1,850 for single or Head of Household
- $1,500 for married or Qualified Surviving Spouse.
If you're both 65 and blind, the additional deduction amount is doubled.
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