I am sure this has been covered 100 times...but a buddy of mine used a large tax company to do his taxes for him, and they told him he could not claim his RV on his taxes. Everything I have read says you can. Need to be in it 14 days a year, has to have a bathroom, kitchen, and a place to sleep...and need to itemize to be able to claim it. If you already claimed 2 residences, you can't claim the RV. Am I missing anything?
Sean
2011 Flagstaff 29SKBS
2010 F-150 4x4 5.4L
2011 camping days=23 in 9 locations
2012 camping days=4 in 2 locations
I'm not a tax expert and you should seek the advice of one for the proper answer but I think the key is you already claim 2 residences... I believe the RV can be claimed if IT IS the 2nd residence and I don't think there is a provision to claim more than 2 residences... But again, I'm not a tax expert...
Les
2000 Ford F-250SD, XLT, 4X4 Off Road, SuperCab
w/ 6.8L (415 C.I.) V-10/3:73LS/4R100
Banks Power Pack w/Trans Command & OttoMind
Sold Trailer - not RV'ing at this point in time
I'm not an expert either, but agree with Les - I believe you can only have one additional residence - the trailer is OK if it is your 2nd, but not a 3rd...
My understanding is that the loan on the RV must also be secured by the RV or a residence, otherwise can't deduct the interest. but then a tax expert is the one to determine if you qualify.
2011 Keystone Outback 295RE
2004 14' bikehauler with full living quarters
2004.5 Silverado 4x4 CC/SB Duramax/Allison
There is no 14 day rule applying to deducting the loan interest on the RV as a second home. The 14 day rule is on rental property. An example would be you own a condo in a resort area and it is used for short term rentals but you also have some personal usage.
And to say "claiming your RV on your taxes" is a very broad statement and you need a more specific question.
Sean Boburk wrote: I am sure this has been covered 100 times...but a buddy of mine used a large tax company to do his taxes for him, and they told him he could not claim his RV on his taxes. Everything I have read says you can. Need to be in it 14 days a year, has to have a bathroom, kitchen, and a place to sleep...and need to itemize to be able to claim it. If you already claimed 2 residences, you can't claim the RV. Am I missing anything?
Sean
Hi, I can't claim my trailer, but my trailer was never financed. You didn't say, but I will assume, that your friend is financing his RV.
Bob
2005 Airstream Safari 25-B
2000 Lincoln Navigator
Equal-i-zer
Yamaha 2400
Deductible items:
Interest on the loan, IF the RV is collateral. Check the applicable IRS publication for other qualifiers.
Certain portions of the registration costs (taxes) may be deductible, depending on your state.
Nothing else, AFAIK.
CM1, USN (RET)
2002 Fleetwood Southwind 32V, Ford V10
Toad: 2006 Jeep Rubicon LJ
Other toad: '06 PT Cruiser, Kar Kaddy dolly
Toy: 1977 Dodge W100 CC SWB, 3/4 ton axles & springs
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Hi, I can't claim my trailer, but my trailer was never financed. You didn't say, but I will assume, that your friend is financing his RV.
