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Where do i enter the interest for my rv when i do not get a 1098

I use to be able to enter my rv interest with my mortgage interest and just say I do not have a 1098  my bank does send me a letter of interest paid.  there is no way to enter it here without a 1098

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8 Replies
JulieR
Expert Alumni

Where do i enter the interest for my rv when i do not get a 1098

If your RV qualifies as a second home, then the interest is be deductible. You would record the interest as if you received a 1098 form. This is because the IRS form is geared to a second 'home', not an RV.

But boats and RV's can qualify as second homes if they meet the second home definition, and interest is entered correctly in the 1098 section to flow to the correct line on your schedule A.

I hope you find this information helpful.

Where do i enter the interest for my rv when i do not get a 1098

How do I enter the interest rate on my RV without a 1098 form

JamesG1
Employee Tax Expert

Where do i enter the interest for my rv when i do not get a 1098

If you qualify for the mortgage interest deduction, the interest is deducted under the mortgage interest section.

 

Detailed steps follow. 

  • Click on 'Federal'.
  • Click on 'Deductions and credits'.
  • To the right of mortgage interest, click 'edit'.
  • Click on ‘Add another 1098’
  • You may need to answer questions on one or more pages to qualify for the deduction.

 

Please see this.

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Anonymous
Not applicable

Where do i enter the interest for my rv when i do not get a 1098

Along these lines, if you bought the RV in the same year, do you enter the sales tax paid as real estate tax, or?  what can be done with the sales tax?  California

AmyC
Employee Tax Expert

Where do i enter the interest for my rv when i do not get a 1098

The sales tax is not real estate tax so it would go on schedule A with the sales tax.

 

You have the option to use the state tax withheld from your job or the state and local tax you paid this year. You can use an average based on your income and add the sales tax of your big ticket items.

 

@Anonymous

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Where do i enter the interest for my rv when i do not get a 1098

Thanks

 

 

KarenM90
Intuit Alumni

Where do i enter the interest for my rv when i do not get a 1098

If your RV qualifies as a 2nd home, you can deduct the mortgage interest without a 1098:

 

1.  With your TurboTax open, choose Deductions & Credits

2.  Under Your Home, Choose Mortgage Interest and Refinancing (Form 1098)  (Choose this even if you don't have a 1098)

3.  Answer Yes to Did you pay any home loans in 2019

4.  On the next screen, enter your Lender's name

5.  Choose "The Seller is financing this loan and we didn't receive a 1098" then continue through the prompts and questions for this section.  (You will need to enter the lenders EIN or social security number, as well as some other information to continue)

 

 

Here is a TurboTax Help article regarding the qualifications for your RV to qualify as a 2nd home:  RV as a 2nd home

 

 

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Where do i enter the interest for my rv when i do not get a 1098

Thank you for an excellent, step by step answer.  I forgot to do RV deductions when I purchased in 2019.  Time to amend for 2019 tax year, this year.

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