As in a second home deduction? I know boats are (or used to be - maybe they've changed that) as long as they have a head and you spend some minimum amount of time onboard. I would think RVs fit into the same rules - they have a head, kitchen etc. So is the interest deductable as a mortgage? Thanks.

 

Yes, the interest on the loan is as long as it meets the requirments. It has to be set up in a pretty much "living in" condition. Be careful though, you may end up paying higher taxes on the land due to the improvements.

 

I've heard they can be deducted as a second residence, but you'll want to call a CPA to make sure. For ours, we just used our home equity line of credit to purchase it. The interest on those payments will be deductable. Regarding taxes, depending on your State, the personal property tax aspect of the RV should be deductable as well, but again, talk to your CPA

 

Yep we deduct the interest on our rv. Need all the help we can get & we still owe at the end of the year. Wish the kids were still tax deductable, for we spend more on them now than we ever did when under our roof.

 

the rule is that if it is self contained, ie actual pluming and you can life there for a short while then yes. that is why boats that have a galley and head can be deducted on taxes. Now for those of you that have those Pop Up campers with a porta potty the answer is NO

 

Been claiming my 24' toy hauler for 3 yrs now. (Meets all the requirements)
1. bathroom
2. sleeping area
3. kitchen area
4. dining area