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Where do i put the interest paid on my RV?

 
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5 Replies
IreneS
Intuit Alumni

Where do i put the interest paid on my RV?

If you have a loan on an RV or boat that you use as a home, your lender might not send you a 1098. You can still claim this interest. Just enter the information from your year-end statement.

To enter this information, please follow these steps:

  1. Click on Federal Taxes > Deductions & Credits  [In TT Self-Employed:  Personal > Deductions & Credits > I'll choose what I work on].
  2. In the Your Home section, start by clicking on the Start/Revisit box next to Mortgage Interest, Refinancing, and Insurance[See Screenshot #1 below.]
  3. If you have already entered information on a mortgage(s) you will see the Mortgage deduction summary screen.  To enter the information on your RV loan click the box Add a lender.  [Screenshot #2]


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Where do i put the interest paid on my RV?

Where do I put the interest I paid on my RV?

Where do i put the interest paid on my RV?

For Turbo Tax 2017 I do not get an "I did not receive a 1098" option when I try to enter the interest on our motorhome.  What the heck is going on??

Where do i put the interest paid on my RV?

I have same problem

Where do i put the interest paid on my RV?

George-Just use the "This is a seller financed loan and I did not receive a 1098" option.  TurboTax Deluxe 2017 will then enter the interest correctly on Schedule A and the 1040.  TurboTax's option for entering RV interest into TurboTax Deluxe 2017 has very misleading wording.  I read that option as two different requirements: the "loan is seller financed" and also "I do not have a 1098".

In my case and most other people's, the seller is the RV dealership and the financing is totally independent of the seller.  The financing is done by a financial institution, a bank, that does not issue 1098's.  In TuboTax Deluxe 2015 they had the single "I did not receive a 1098" option that fit the situation, however in the 2016  and 2017 versions they added the incorrect portion of  the option, "This is a seller financed loan".  Hope this makes sense as the answer to my question to TurboTax did not address my question.

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