Friday, October 25, 2013

RV Income Tax Deductions

Q.   Are there any deductions available for full-timers regarding the motor home other than interest on the MH loan? We have no other residence.

A.  If it is beneficial for you to file a Schedule A, and if your home state taxes you on the assessed value of your RV, that portion is an income tax deduction similiar to real property taxes in addition to your interest.  There are no other deductions available unless you use your RV for business purposes. There are multiple discussions within this website for possible business deductions.