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01-19-2025, 07:13 PM
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#1
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Member
Join Date: Nov 2024
Location: Paso Robles, CA Wine Country
Posts: 30
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RV loan as a tax write off???
We currently own a home in California and another in Arizona. We consider our home in AZ as our primary residence and the one in Cali as a vacation home.
Both homes are paid for with no loans against them for the past few years.
We just purchased a Renegade Explorer RV and decided to use the banks money instead of our retirement funds, at least until the stock market swings the other way.
My question is in regards to the ability, or not, to write off the interest on this RV loan as our secondary home. We have had RV’s in the past, while also owning a home with a loan, and we were able to call it our secondary home and write off the interest on the loan each year during tax time. Just not sure how it works now in retirement, with two homes as they are paid off with no loans on either.
Any input would be much appreciated.
__________________
John n Tami
Renegade Explorer 40ERB
2023 Jeep Rubicon
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01-19-2025, 07:20 PM
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#2
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Senior Member
Join Date: Jul 2018
Posts: 5,326
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Quote:
Originally Posted by Tozlakes
We currently own a home in California and another in Arizona. We consider our home in AZ as our primary residence and the one in Cali as a vacation home.
Both homes are paid for with no loans against them for the past few years.
We just purchased a Renegade Explorer RV and decided to use the banks money instead of our retirement funds, at least until the stock market swings the other way.
My question is in regards to the ability, or not, to write off the interest on this RV loan as our secondary home. We have had RV’s in the past, while also owning a home with a loan, and we were able to call it our secondary home and write off the interest on the loan each year during tax time. Just not sure how it works now in retirement, with two homes as they are paid off with no loans on either.
Any input would be much appreciated.
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Well... I play a tax accountant, lawyer, and professional dinosaur walker on TV plus I once stayed in a Holiday Inn Express. That means I's qualified to say this:
Ask your tax advisor/accountant. A real one, not me on TV.
__________________
2005 Four Winds Majestic 23A
“To the world you may be one person; but to one person you may be the world.” - Dr Suess
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01-19-2025, 07:22 PM
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#3
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Community Moderator
Monaco Owners Club
Join Date: Jul 2016
Location: Central, Arkansas
Posts: 12,219
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Agree, call your certified tax advisor. You are not going to be able to use posts from the forum to convince the IRS you followed the rules.
__________________
2004 Beaver Monterey Laguna IV
Cummins ISC 350HP Allison 3000 6 speed
2022 Tesla Model Y LR
2022 Chevy Equinox Premier 6 speed FWD Stehl dolly
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01-19-2025, 07:26 PM
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#4
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Community Administrator
Pond Piggies Club LA Gulf Coast Campers Outdoors RV Owners Club Entegra Owners Club Skyline Owners Group
Join Date: Mar 2002
Posts: 42,547
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Quote:
Originally Posted by Spdracr39
Agree, call your certified tax advisor. You are not going to be able to use posts from the forum to convince the IRS you followed the rules.
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You're going to get all sorts of opinions. But the only one that'll stand by you when you get audited is your tax accountant.
__________________
Lori (& Dave, my spirit guide) - RV/MH Hall of Fame Lifetime Member | My iRV2 Photo Albums
2016 Phoenix Cruiser 2350S, 2018 Phaeton 40IH,2006 Bounder 36Z, 2004 Cougar 285EFS, 2000 Aerolite 25FBR
There is great need for a sarcasm font.
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01-19-2025, 07:31 PM
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#5
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Member
Join Date: Nov 2024
Location: Paso Robles, CA Wine Country
Posts: 30
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So it sounds like none of you that responded are in our situation to give me valuable information.
The question is a starting point to what others have experienced prior to me contacting my tax expert.
__________________
John n Tami
Renegade Explorer 40ERB
2023 Jeep Rubicon
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01-19-2025, 07:34 PM
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#6
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Community Administrator
Pond Piggies Club LA Gulf Coast Campers Outdoors RV Owners Club Entegra Owners Club Skyline Owners Group
Join Date: Mar 2002
Posts: 42,547
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What I did 20 years ago isn't going to fly now so I will not give it. I stand by my advice. You can do what you want.
__________________
Lori (& Dave, my spirit guide) - RV/MH Hall of Fame Lifetime Member | My iRV2 Photo Albums
2016 Phoenix Cruiser 2350S, 2018 Phaeton 40IH,2006 Bounder 36Z, 2004 Cougar 285EFS, 2000 Aerolite 25FBR
There is great need for a sarcasm font.
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01-19-2025, 08:14 PM
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#7
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Senior Member
Join Date: Mar 2021
Posts: 940
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Quote:
Originally Posted by Tozlakes
We currently own a home in California and another in Arizona. We consider our home in AZ as our primary residence and the one in Cali as a vacation home.
Both homes are paid for with no loans against them for the past few years.
We just purchased a Renegade Explorer RV and decided to use the banks money instead of our retirement funds, at least until the stock market swings the other way.
My question is in regards to the ability, or not, to write off the interest on this RV loan as our secondary home. We have had RV’s in the past, while also owning a home with a loan, and we were able to call it our secondary home and write off the interest on the loan each year during tax time. Just not sure how it works now in retirement, with two homes as they are paid off with no loans on either.
Any input would be much appreciated.
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It depends on what other deductions you have. Before you can even consider writing off the interest you will need to exceed the standard deduction which has gotten pretty large while the list of what can be written off has gotten smaller. Like others have said it’s a question for your tax advisor.
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01-19-2025, 09:15 PM
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#8
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Senior Member
Join Date: Dec 2022
Location: Whitney, TX
Posts: 2,030
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Never mind. Deleted what I wrote before.
Talk to your tax guy BEFORE you buy the RV.
But in general - no, unless you sell the house in California. Maybe if you make a lot of capital gains on that sale, itemizing for one year might be useful.
Since you are retired, has your income dropped from when you were working full-time?
When we retired, we dropped below the threshold for itemized deductions. Can't write off interest if you are not itemizing.
Standard deduction in 2025 will be $15,000 - or $30,000 for a couple.
__________________
US Navy 1972 - 1992 - SCPO Retired
Sometimes I wonder what happened to folks after I give them directions.
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01-19-2025, 09:34 PM
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#9
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Senior Member
Join Date: Sep 2024
Posts: 150
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If you are debt free, you might just be better off taking the standard deductions. In our case itemized "Long Form" NETS us less than the Standard Deduction.
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01-19-2025, 11:05 PM
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#10
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Senior Member
Monaco Owners Club Freightliner Owners Club Holiday Rambler Owners Club
Join Date: Sep 2019
Location: Thornville, Ohio
Posts: 4,091
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The houses have property taxes that can be written off. In most cases you don't have property taxes. So you would only gaing the preference of the interest less property taxes you pay on you second house which you would no longer claim. But first you need to have deductions that exceed the standard deduction.
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Art & Joyce
Thornville, OH
Kia Soul pushing a 36' DP Endeavor
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01-20-2025, 09:52 AM
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#11
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Senior Member
Join Date: Apr 2015
Location: Rogers, AR
Posts: 2,875
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So, you're asking if you can deduct the interest on a consumer loan for a recreational vehicle, ahhh, generally NO.
You should have taken out a mortgage on your primary home to pay for the RV. Then if the total of all your itemized deductions exceeds the standardized deduction, it will be deducted.
Don't take any advice of anyone here on the forum, you didn't give us enough of your tax information to give any good advice.
Use the information you already have, look at last years tax return, if there hasn't been any significant financial changes and you used the standard deduction last year, it will be the same this year.
Finically, we are sort of in your same situation and I generally keep track of all my itemized deduction items each year and when all added up at tax time, they are sort of a drop in the bucket compared to the standardized deduction that is allowed.
Disclaimer - There may have been a error in my advice ststed above.
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2019 Fleetwood Discovery LXE 40M w/2021 Equinox
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01-20-2025, 10:03 AM
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#12
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Member
Join Date: Nov 2024
Location: Paso Robles, CA Wine Country
Posts: 30
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Good info by many to put into my brain. Much appreciated!
__________________
John n Tami
Renegade Explorer 40ERB
2023 Jeep Rubicon
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01-20-2025, 10:14 AM
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#13
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Senior Member
Join Date: Apr 2004
Posts: 4,000
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I know that any information here must be verified by a tax advisor for one's individual circumstances. However, my understanding is that basically a RV, boat, cabin in the woods, etc. is considered a second home if it has sleeping, cooking, and bathing facilities and manufacturers of these lobby congress hard to keep this accommodation.
When we itemized our deductions, I always included the interest on our motorhome loans.
Quote:
Originally Posted by alank
So, you're asking if you can deduct the interest on a consumer loan for a recreational vehicle, ahhh, generally NO.
You should have taken out a mortgage on your primary home to pay for the RV. Then if the total of all your itemized deductions exceeds the standardized deduction, it will be deducted.
Don't take any advice of anyone here on the forum, you didn't give us enough of your tax information to give any good advice.
Use the information you already have, look at last years tax return, if there hasn't been any significant financial changes and you used the standard deduction last year, it will be the same this year.
Finically, we are sort of in your same situation and I generally keep track of all my itemized deduction items each year and when all added up at tax time, they are sort of a drop in the bucket compared to the standardized deduction that is allowed.
Disclaimer - There may have been a error in my advice ststed above.
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__________________
George Schweikle Lexington, KY
2005 Safari (Monaco)Trek 28RB2, Workhorse W20, 8.1, Allison 1000 5 spd, UltraPower engine & tranny, Track bars & sway bars, KONI FSD, FMCA 190830, Safari Int'l. chapter. 1999 Safari Trek 2830, 1995 Safari Trek 2430, 1983 Winnebago Chieftain, 1976 Midas Mini
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01-20-2025, 10:15 AM
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#14
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Senior Member
Entegra Owners Club Spartan Chassis
Join Date: May 2023
Location: Cedar Rapids, IA
Posts: 1,651
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Quote:
Originally Posted by alank
So, you're asking if you can deduct the interest on a consumer loan for a recreational vehicle, ahhh, generally NO.
You should have taken out a mortgage on your primary home to pay for the RV. Then if the total of all your itemized deductions exceeds the standardized deduction, it will be deducted.
Don't take any advice of anyone here on the forum, you didn't give us enough of your tax information to give any good advice.
Use the information you already have, look at last years tax return, if there hasn't been any significant financial changes and you used the standard deduction last year, it will be the same this year.
Finically, we are sort of in your same situation and I generally keep track of all my itemized deduction items each year and when all added up at tax time, they are sort of a drop in the bucket compared to the standardized deduction that is allowed.
Disclaimer - There may have been a error in my advice ststed above.
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A loan for an RV is deductible provided it meet the required criteria as a vacation home. You will need to work with your tax accountant to figure out if that makes sense to do. In my case the Combined deductions for my RV loan and home loan together are not worth as much as the standard deduction.
__________________
Dan, 2018 Thor ACE 30.3, 1996 Tiffin Allegro
2022 Entegra Aspire 44W, -- Spartan k2 chassis, -- 450 L9 Cummins
2020 Jeep Gladiator Rubicon
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