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chasann6
New Member

We purchased an RV to live in full time. We are making payments with interest. Is that interest deductible?

 
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KrisD
Intuit Alumni

We purchased an RV to live in full time. We are making payments with interest. Is that interest deductible?

Yes, it can be. You can use the information on the loan documents in place of a 1098 to enter the interest paid. 

According to the IRS:

"For you to take a home mortgage interest deduction, your debt must be secured by a qualified home. This means your main home or your second home. A home includes a house, condominium, cooperative, mobile home, house trailer, boat, or similar property that has sleeping, cooking, and toilet facilities."

https://www.irs.gov/publications/p936#en_US_2018_publink1000229901

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