It depends
You can claim various deductions related
to your travel trailer as a second home as long as your travel trailer has sleeping, cooking and
toilet facilities.
You can claim some of your travel trailer expenses if you
itemize.
You will be able to
claim any interest on a loan payment as the interest on a second home and the
personal property taxes paid on your travel trailer as property taxes on a second home.
Please note that you will only get the benefit of these deduction if you
itemize on your return and if all your itemized deductions are more than your
standard deduction.
You can put this
interest expense under your home section because the IRS considers this a
second home for tax purposes.
To enter your travel trailer Interest in TurboTax
Online (for TurboTax Online sign-in, click Here , then select "Take Me to My
Return") 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
You would only get
to deduct any taxes that the state charged you based on the value of your
mobile home. These taxes goes under the personal property tax section:
To enter your travel trailer property taxes 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 “Cars and Other Things You Own”
- Choose "show more",
then Personal Property Taxes and follow the onscreen instructions
Additionally, if you
paid sales tax on this purchase and are taking a state sales tax deduction (as
opposed to taking a state income tax deduction) on Schedule A, you can add
these sales tax a the tax on a major purchase.
To enter your sales taxes 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
& 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 “Estimates and Other Taxes Paid ”
- Choose "show more",
then Sales Tax (start/update/revisit)
- Choose - continue to sales
tax and choose "Easy Guide
- On the screen that says Major
Purchase - select "yes" enter your travel trailer sales information here
