Yes, the IRS considered an RV like a home.
So if the loan used to buy the RV (and your RV has sleeping, cooking and
toilet facilities) and you paid interest on this loan in 2016, you will be able
to deduct this interest as interest on a home. (Just make sure that you keep tax records showing how the loan was used to buy the RV for future reference.)
You can put this
interest expense under your home section because the IRS considers this a
home for tax purposes.
Since you are using TurboTax Home and Business Desktop Edition, to enter your RV Interest, 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
- Enter the Bank Lender's name
and select the box that you did not receive a 1098
- Put the interest you paid
during the year in box as "qualified amount:
