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stan4
New Member

What can I deduct for a RV purchased last year when considered second home? Sales tax , interest on loan when loan is like a vehicle type loan not actually a bank mortgage?

 
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What can I deduct for a RV purchased last year when considered second home? Sales tax , interest on loan when loan is like a vehicle type loan not actually a bank mortgage?

The Sales Tax would be deducted as the Sales Tax or State and Local Income Tax (entered as a major purchase).  The loan is entered in the Home Mortgage Interest section- you will enter the Lender name then on the next screen you must select that "I did not receive a 1098" and proceed with the entry.  If you have any specific questions, please add below.

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What can I deduct for a RV purchased last year when considered second home? Sales tax , interest on loan when loan is like a vehicle type loan not actually a bank mortgage?

The Sales Tax would be deducted as the Sales Tax or State and Local Income Tax (entered as a major purchase).  The loan is entered in the Home Mortgage Interest section- you will enter the Lender name then on the next screen you must select that "I did not receive a 1098" and proceed with the entry.  If you have any specific questions, please add below.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
semmons0
New Member

What can I deduct for a RV purchased last year when considered second home? Sales tax , interest on loan when loan is like a vehicle type loan not actually a bank mortgage?

If I select "I did not receive a 1098" as you suggest, TT assumes it's a seller-financed loan and asks me for the seller's SSN or EIN. But it's just a bank loan so I don't have that info. TT will not let me proceed at that point. So frustrating!

What can I deduct for a RV purchased last year when considered second home? Sales tax , interest on loan when loan is like a vehicle type loan not actually a bank mortgage?

Looks like you have to enter as 1098 and fill in Box 2 & Box 3 to the best of your ability as well
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