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Old 10-10-2010, 11:09 AM   #29
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"On your second point, that hasn't been true for years. With the exception of the special break for buying a new car or RV in 2009, you can deduct either state income taxes or sales taxes, not both."

That's not exactly accurate. The state tax is always deductible and the state refund is then claimed as income on the next years taxes. The sales taxes (use tax) is additionally deductible if it exceeds a certain amount. Best to check with a tax accountant for the details. There are some deductions that are only for certain states, i.e. in Arizona all our license plate fees are deductible. Our registration fees for cars and motorhomes runs into the thousands here! I use a CPA for my taxes because I want to be sure that I get all the deductions that I am entitled to. Happy Travels, Joe
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Old 10-10-2010, 12:27 PM   #30
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That's not exactly accurate. The state tax is always deductible and the state refund is then claimed as income on the next years taxes. The sales taxes (use tax) is additionally deductible if it exceeds a certain amount.
Not true anymore. At least for 2009 (2010 not published yet). You can deduct one or the other, and if you elect to deduct the sales tax, you can either deduct actual or calculated (and the IRS has a nifty online calculator to use).

Sales Tax Deduction Calculator

joe
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Old 10-10-2010, 04:03 PM   #31
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Not true anymore. At least for 2009 (2010 not published yet). You can deduct one or the other, and if you elect to deduct the sales tax, you can either deduct actual or calculated (and the IRS has a nifty online calculator to use).

Sales Tax Deduction Calculator

Joe
I guess that's why I use a CPA for my taxes. I bookmarked that site, pretty interesting. Thanks, Joe
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Old 10-10-2010, 04:36 PM   #32
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I called the credit union that holds our MH loan. They said that they are well aware of the MH loan interest being deductible and they are sending tax forms out after the year end. The credit union happens to be right in the huge Voyager RV Resort Tucson, AZ. Happy travels, Joe
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Old 10-10-2010, 10:00 PM   #33
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Originally Posted by azloafer View Post
"On your second point, that hasn't been true for years. With the exception of the special break for buying a new car or RV in 2009, you can deduct either state income taxes or sales taxes, not both."

That's not exactly accurate. The state tax is always deductible and the state refund is then claimed as income on the next years taxes. The sales taxes (use tax) is additionally deductible if it exceeds a certain amount. Best to check with a tax accountant for the details. There are some deductions that are only for certain states, i.e. in Arizona all our license plate fees are deductible. Our registration fees for cars and motorhomes runs into the thousands here! I use a CPA for my taxes because I want to be sure that I get all the deductions that I am entitled to. Happy Travels, Joe
To quote the 2009 Federal Form 1040, Schedule A instructions: "You can elect to deduct state and local general sales taxes instead of state and local income taxes. You cannot deduct both."

Seems pretty clear to me.
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Old 10-10-2010, 10:09 PM   #34
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I guess I opened a can of worms. Neverthless I now have a clear understanding. All I need is documentation from my bank regarding the interest I paid during the year and thats what I need to file.
Thanks everyone for all the good info.
No can of worms. It is actually very simple. Your MH is treated just like your main residence. Deduct the interest paid on a loan. That's it. If you have another "second home", I suppose you would have to choose which one you want to claim as your second home.

Don
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Old 10-11-2010, 08:28 AM   #35
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I already know that both state taxes and sales taxes cannot be deducted. It is one or the other. I misspoke. My CPA handles that. We, here in Arizona, can still deduct the registration fees for all vehicles, including motorhomes...Our MH registration alone cost $2,845. Our sales tax on the purchase was $1,830. OUCH!
Happy travels, Joe
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