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Old 11-16-2011, 05:56 PM   #1
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RV Loan Interest Deduction in Jeopardy

Here is an alert sent out by FMCA President Charlie Schrenkel. If you claim your RV as a second home and deduct loan interest on your tax returns, you need to read this.

"Protect the Mortgage Interest Deduction for RVs
The federal second home mortgage interest deduction is a substantial benefit to motorhome owners. But reports indicate that a Congressional Super Committee (Joint Select Committee on Deficit Reduction) is considering eliminating this deduction for RVs. The proposal is part of a package of spending cuts and tax increases aimed at closing the federal budget deficit.
Because negotiations have been kept confidential, with only a few details slipping out, it's not certain whether this provision will be in the final Super Committee deficit reduction plan until after the plan is finalized. NOW is the time to act to ensure the deduction is not included in the final plan, or any future tax reform plan.
Visit RVAct at www.rvact.com to let members of Congress know that you oppose any effort to repeal the second home mortgage interest deduction as it applies to RVs.
RVAct provides sample letters for dealers, manufacturers/suppliers, and consumers to send to Congress. Each letter is customizable. By entering your name and address, the site will automatically match you with your legislators and send an e-mail to their office.
The deadline for the Super Committee to vote on a deficit reduction plan is November 23, but the Congressional Budget Office must score the cost of the plan before the Super Committee can vote on it. Therefore, we need to start our e-mail campaign now.
To send a letter to your legislators, go to www.rvact.com."

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Old 11-16-2011, 06:02 PM   #2
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So take a second or a home improvment loan on your house and pay off the RV. Probably a a lot lower interest.

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Old 11-16-2011, 06:03 PM   #3
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