Journey with Confidence RV GPS App RV Trip Planner RV LIFE Campground Reviews RV Maintenance Take a Speed Test Free 7 Day Trial ×
RV Trip Planning Discussions

Go Back   iRV2 Forums > TRAVEL TRAILER, 5th WHEEL & TRUCK CAMPER FORUMS > Travel Trailer Discussion
Click Here to Login
Join iRV2 Today

Mission Statement: Supporting thoughtful exchange of knowledge, values and experience among RV enthusiasts.
Closed Thread
  This discussion is proudly sponsored by:
Please support our sponsors and let them know you heard about their products on iRV2
 
Thread Tools Search this Thread Display Modes
 
Old 01-22-2016, 09:26 PM   #1
Senior Member
 
Join Date: Jan 2016
Posts: 254
Tax deduction

You can deduct interest you paid on your RV if you paid the interest in the preceding year. Your RV or TT needs to be equipped as your home is, i.e. bed, bathroom, living area etc. You can't throw a sleeping bag into the vehicle and call it a home. Additionally you can write off the RV or TT as a business office if you use the home to entertain clients or do your business from the RV. Just follow your tax guidelines and you will be fine. Also some states allow you to deduct your sales tax. I say all this to say you must itemize your taxes to do all this. I am not a tax expert but have done a lot of business taxes as well as rental homes and my main home. please dont use my advice as the gospel do your own homework but you will find I am right in most of the situations. I forgot to mention this pertains to your second home as well as your main residence
cmcguire48 is offline  
Join the #1 RV Forum Today - It's Totally Free!

iRV2.com RV Community - Are you about to start a new improvement on your RV or need some help with some maintenance? Do you need advice on what products to buy? Or maybe you can give others some advice? No matter where you fit in you'll find that iRV2 is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with other RV owners, see fewer ads, upload photographs, create an RV blog, send private messages and so much, much more!

Old 01-22-2016, 09:45 PM   #2
Senior Member
 
Old-Biscuit's Avatar
 
Join Date: Nov 2015
Posts: 26,689
Everybody knows that...........

Did you know Pinocchio is a bad motivational speaker?
Old-Biscuit is offline  
Old 01-22-2016, 09:49 PM   #3
Senior Member
 
Join Date: Jan 2016
Posts: 254
not everyone

Not everyone knows the answer or they wouldn't ask a tax question in this forum
cmcguire48 is offline  
Old 01-22-2016, 10:40 PM   #4
Senior Member
 
Old-Biscuit's Avatar
 
Join Date: Nov 2015
Posts: 26,689
Who asked
Old-Biscuit is offline  
Old 01-22-2016, 11:04 PM   #5
Senior Member
 
Arch Hoagland's Avatar
 
Monaco Owners Club
Workhorse Chassis Owner
Join Date: Aug 2002
Location: Clovis, CA, USA
Posts: 13,103
Quote:
Originally Posted by Old-Biscuit View Post
Who asked

We need a like button on this forum.
__________________
2004 Monaco La Palma 36DBD, W22, 8.1, 7.1 MPG
2000 LEXUS RX300 FWD 22MPG 4020 LBS
Criticism is easier than Craftsmanship
Arch Hoagland is offline  
Old 01-23-2016, 04:04 AM   #6
Community Administrator
 
JohnRR's Avatar


 
Fleetwood Owners Club
Workhorse Chassis Owner
Join Date: Sep 2010
Location: Marquette, Michigan "Da UP" & Lehigh Acres Florida
Posts: 21,822
Quote:
Originally Posted by Old-Biscuit View Post
Who asked
Any member can post a statement which could answer a unasked question.
__________________
John & Cathy R.
06 Pace Arrow 38L Workhorse W24
08 14 Lincoln MKX AWD 06 Lincoln Mark LT 4X4, 2020 Lincoln Corsair
See My Pace Arrow Upgrades
JohnRR is offline  
Old 01-23-2016, 06:52 AM   #7
Senior Member
 
tedgard01's Avatar
 
Carolina Campers
Join Date: Feb 2013
Location: Winston Salem, NC
Posts: 3,452
What are taxes?
tedgard01 is offline  
Old 01-24-2016, 05:34 AM   #8
Member
 
Join Date: Feb 2015
Posts: 52
I rarely visit this forum because some people just go out of their way to be rude....Just saying
Briansi52 is offline  
Old 01-24-2016, 05:53 AM   #9
Senior Member
 
Join Date: Apr 2010
Location: Washington Court House, Ohio
Posts: 155
Wow, what is wrong with people. The OP is a junior member and could be new to the RV world and was just trying to help by posting something he thought might be helpful. Not everybody knows all the answers. Give him a break and welcome him instead of throwing hand gernades at him.
georgew48 is offline  
Old 01-24-2016, 05:59 AM   #10
Senior Member
 
Triker56's Avatar
 
Fleetwood Owners Club
Join Date: Jun 2009
Posts: 4,031
Pay cash for your RV. And never lose all that interest money as you will never get 100% of it back on your taxes.

Or if retired it may not be enough to even file the long form.
The standard deduction may be worth more.
__________________
99 Discovery 34Q ISB
2014 MKS AWD EcoBoost Toad
Fulltime Since "99"
Triker56 is offline  
Old 01-24-2016, 06:00 AM   #11
Senior Member
 
tedgard01's Avatar
 
Carolina Campers
Join Date: Feb 2013
Location: Winston Salem, NC
Posts: 3,452
True, and any time I am able to take another tax deduction, I am a happier camper....
tedgard01 is offline  
Old 01-24-2016, 06:15 AM   #12
Senior Member
 
Ohio Snake's Avatar
 
Join Date: Jan 2016
Location: Central Ohio
Posts: 707
Tax deduction

Quote:
Originally Posted by Old-Biscuit View Post
Who asked

Someone asked the question on another thread. The OP created a new thread called "Lost" where he questioned how to find someone to answer a "tax question" for them.

My guess is the OP could not find the user id or thread where the question was asked and created a new thread "tax deduction" in an honest attempt to answer a "tax question" for someone.

Some people may find the OP's answer helpful. Unfortunately, there some people on the forum who may be rude. Personally , the thread did not bother me.
__________________
Regards,
Ohio Snake
Ohio Snake is offline  
Old 01-27-2016, 09:30 PM   #13
Senior Member
 
Mr_D's Avatar
 
Country Coach Owners Club
Solo Rvers Club
iRV2 No Limits Club
Join Date: May 2011
Location: Vancouver, WA
Posts: 37,725
Quote:
Originally Posted by Triker56 View Post
Pay cash for your RV. And never lose all that interest money as you will never get 100% of it back on your taxes.
Or perhaps you make more in dividends than you pay in interest plus you get a tax deduction.
__________________
2009 45' Magna 630 w/Cummins ISX 650 HP/1950 Lbs Ft, HWH Active Air
Charter Good Sam Lifetime Member, FMCA,
RV'ing since 1957, NRA Benefactor Life, towing '21 Jeep JLU Rubicon Ecodiesel
Mr_D is offline  
Old 01-27-2016, 11:49 PM   #14
Senior Member
 
Join Date: Dec 2012
Location: Oregon
Posts: 6,619
Whats cash?
Cumminsfan is offline  
Closed Thread



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Sales Tax Deduction - 2015 and Beyond wnytaxman iRV2.com General Discussion 27 02-04-2016 01:59 PM
Question: IRS Tax deduction for Motor home & Toad Hit_the_Rhod iRV2.com General Discussion 23 07-25-2015 06:06 AM
Sales Tax Deduction in 2013 and 2014 wnytaxman iRV2.com General Discussion 24 01-22-2015 09:02 PM
Sales Tax Deduction wnytaxman Just Conversation 15 12-20-2014 01:59 PM
Tax Court case on business use of motorhome CWHTRAINS Just Conversation 7 08-11-2014 03:03 PM

» Featured Campgrounds

Reviews provided by


All times are GMT -6. The time now is 07:37 AM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.