Taxes are taxing...

[mr.wilson]

Does anyone claim their RV as a second home on the their taxes. I thought I remember reading somewhere that was an option as long as the unit meet certain criteria. Can someone give me a few pointers. Missouri resident if that helps.



Craig

 

[THoltz]

The FAQ & answer below came from this site RV Financing Frequently Asked Questions.



Can I write the interest off on my income taxes? Yes, a fully self contained RV is considered a 2nd home and the interest paid is deductible, if you are not already deducting the interest on a 2nd home. At the time of this writing an RV is considered a qualified residence if it is one of the two residences chosen by the taxpayer for purposes of deductibility. To qualify it must provide basic living accommodations; meaning it has cooking, sleeping and bathroom facilities with fresh water and waste water holding tanks. Talk to your tax advisor about what is required to write the interest off on your RV.

 

[icman95]

Yes, I do. A second home (or first for that matter) is defined as having 3 things.



1)Sleeping quarters

2)Cooking facilities

3)Bathroom



As long as you have these three things it should be fine on the taxes.



The interest on second homes is only deductible if you are under a certain income level. Above that level the amount you can deduct is reduced and eventually goes away altogether. I'm not exactly sure what the level is as I don't have such problems as worrying about my income being too high. I wish I had such problems.

 

[HBarlow]

Yes, I have done it as THoltz and icman95 correctly stated above. I think the deductions are pretty common and claimed by many people.

 

[EGroeneveld]

Being a CPA, I prepare maybe 25 returns with RV interest taken as a second home interest each year.

 

[TLane]

What about the "new home" tax credit? I bought a used RV last year (December), which I understand would qualify as a "new-to-me" home. Do I get the tax credit? Is there a more stringent test?