vacation rental

[chucklkesjanet70]

I have a place in a campground in Delaware and pay lease payment am i allowed to deduct this from my taxes?

[Holly W1]

Hello @chucklkesjanet70 ,

We're so happy you joined us today!  

If you itemize, and paid interest, then you could deduct the interest as a second home.  If you rent out your place while your not there, then you could look into claiming that rent and deduction the lease payments, but I'm not sure if that is really the case in this situation.  Typically, payments to seasonal campgrounds, timeshares, etc. are not tax deductible.  In some cases, interest paid on principle payments, and real estate taxes could be used as deduction if you are able to take advantage of Schedule A.  It would be nice though 🙂  

[Opus 17]

You may deduct real estate taxes you pay on real property that you own.  If you don't own the land, you can't deduct property taxes even if they are included in the lease.

You can deduct mortgage interest you pay on your main residence and one second home, such as a vacation home.  However, that would not apply since this is a lease.

There are no other tax breaks I can think of for a personal vacation property.  Personal expenses are almost never deductible, except for certain expense for items favored by Congress (like benefits for owning a home or donating to charity.)