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Super_Dave

Harrisville, UT

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Posted: 02/07/19 05:59pm Link  |  Print  |  Notify Moderator

Anyone done there 2018 taxes and found out anything different about RV deductions under the new tax bill? I'm assuming that we will meet the minimum deductions to itemize. Having purchased our 5er this last year, we have been going on the assumption that sales tax, registration and interest were deductible.


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Charlie D.

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Posted: 02/07/19 06:09pm Link  |  Print  |  Notify Moderator

Can't help with your answer but IMO many, including myself, won;t know until we go to filling out the forms.


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Michelle.S

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Posted: 02/07/19 06:20pm Link  |  Print  |  Notify Moderator

With the new increase in the standard deduction you will need lots of taxes and more to make it worth while to itemize.


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morphrider

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Posted: 02/07/19 06:24pm Link  |  Print  |  Notify Moderator

You can't use it as a second home anymore. We did ours, could not claim it.

Super_Dave

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Posted: 02/07/19 06:46pm Link  |  Print  |  Notify Moderator

morphrider wrote:

You can't use it as a second home anymore. We did ours, could not claim it.

This was the debate I ran into on my internet search. Someone stated that but no one could find the chapter and verse that prohibited it.

Walaby

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Posted: 02/07/19 07:08pm Link  |  Print  |  Notify Moderator

Exceeding $24,000 standard deduction is gonna be really hard, regardless of the law.

I own two houses, and even the deductions for both, my sales tax for my brand new truck and registration costs I could not get above 24K.

Mike


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Super_Dave

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Posted: 02/07/19 07:16pm Link  |  Print  |  Notify Moderator

We are connected to a lot of charities so we are sitting on the bubble at $24K without the 5er. Sales tax alone is almost $4K. To me, it would make the difference to itemize or not.

Super_Dave

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Posted: 02/07/19 07:33pm Link  |  Print  |  Notify Moderator

It appears that the sales tax is deductible regardless of the second home issue so that is good.

wildtoad

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Posted: 02/07/19 07:35pm Link  |  Print  |  Notify Moderator

morphrider wrote:

You can't use it as a second home anymore. We did ours, could not claim it.


I don’t believe this to be totally factual. My H&R Block software says I can at least for federal taxes. Haven’t got to state yet. I’m deducting both the interest on the loan as well as the personal property taxes.


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2edgesword

New York

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Posted: 02/07/19 07:38pm Link  |  Print  |  Notify Moderator

Super_Dave wrote:

We are connected to a lot of charities so we are sitting on the bubble at $24K without the 5er. Sales tax alone is almost $4K. To me, it would make the difference to itemize or not.


Come live in NY and we'll help you get there [emoticon].

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