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Old 01-05-2006, 06:15 PM   #1
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What are the tax benefits of owning a 26' camper? I was told you could count it as a second home on your taxes. Any information is greatly appreciated.
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Old 01-05-2006, 06:15 PM   #2
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What are the tax benefits of owning a 26' camper? I was told you could count it as a second home on your taxes. Any information is greatly appreciated.
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Old 01-05-2006, 06:42 PM   #3
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The information I received was as long as it has a head, a bed, and a galley it counts as a second home and qualifies for deduction on the interest like a home mortgage. This is my first year with mine, so I haven't tested the theory with my tax guy yet.
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Old 01-05-2006, 07:14 PM   #4
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If you own only one home, then your RV qualifies as your second home per IRS. If you own more than one permanent home your RV does not qualify.
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Old 01-08-2006, 03:13 PM   #5
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I've had three different RVs over the last 12 years and have deducted the interest on the payments as a mortgage...never had any problems with it on the tax returns.
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Old 01-09-2006, 03:25 AM   #6
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If you go to the IRS website and look at Publication 936, it will explain what is deductable and what is not. Per the publication "For you to take a home mortgage interest deduction, your debt must be secured by a qualified home. This means your main home or your second home. A home includes a house, condominium, cooperative, mobile home, house trailer, boat, or similar property that has sleeping, cooking, and toilet facilities." So as long as the RV is used to secure the loan, and it is your only second home, then you can deduct the interest. If you have more than one second home, then you must decide which second home you want to use to deduct the interest. As Ray said, you can deduct your first home, and one second home.
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Old 01-10-2006, 06:02 PM   #7
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Thanks to all for the information. Happy Camping!!
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