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Your RV - 2nd Home Tax Write-Off
RVing is great. It's fun, it's affordable, and with the lure of
a tax write-off, it's also an irresistible way to see America with
your friends or family. Never heard of this? Are you reeling from
shock? Are you thrilling at the thought? Good, we're excited too.
If your RV meets these simple guidelines, you can put some money
back in your pocket:
The RV must be used as security for the loan.
The RV must have basic sleeping accommodations.
The RV must have basic toilet accommodations.
The RV must have basic cooking accommodations.
It's that simple. In today's industry, even the most common types
of RVs, including small class B motor homes, travel trailers, and
fifth wheels, are all equipped with these relatively standard features.
The Internal Revenue Service publishes two booklets regarding the
tax deductibility of RV loan interest that are filled with tons
of helpful information:
Publication 936,
Home Interest Deduction (PDF file)
Publication 523,
Selling Your Home (PDF File)
Or you can contact the IRS at: 800-829-3676
Needless to say, it's worthwhile to educate yourself, and discover
how you can begin benefiting from RVing…in a way you may never
have thought possible.
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