Owning an RV has its perks! You can travel anywhere and always have the comforts of home with you. Another perk you might not know of is that your RV might be tax deductible. Your interest paid on most RV loans is deductible. How do you know if you can use your RV has a Home Mortgage Interest Deductible? The Internal Revenue Service (IRS) has ruled:
With April 15th approaching fast, make sure to take advantage of this tax deduction if your RV loan qualifies for it.
**An RV with full facilities can qualify as a “dwelling unit” under the IRS code section 280A(f)(1). The U.S. tax court case of Haberkorn v. Commissioner, 75 T.C. 259 (Nov. 12, 1980 filed) gives further guidance on the tax deductibility of RVs. Taxpayers many not claim the interest from more than two qualified homes on their tax returns. Ask your tax adviser for more information.
**This information was from a blog post by RVing is Easy at Lerch RV.