Yahoo Message Number: 22114 (http://groups.yahoo.com/neo/groups/Country-Coach-Owners/conversations/messages/22114)
For full-time RVers, is the total interest paid on an RV loan for 2005 deductible as an itemized deduction on Schedule A (Form 1040)in the same manner as mortgage interest on a house?
Thanks.
Gary Collins
'05 Inspire 51491
Yahoo Message Number: 22116 (http://groups.yahoo.com/neo/groups/Country-Coach-Owners/conversations/messages/22116)
Gary, it's my understanding interest on a RV loan is deductible regardless of wether or not it is lived in full time. I believe it falls under ther second home clause.
Walt Rothermel
03Allure30811 (for sale )
Yahoo Message Number: 22121 (http://groups.yahoo.com/neo/groups/Country-Coach-Owners/conversations/messages/22121)
Hi Gary,
To answer your question - it goes on Sch A just like your home mortgage.
Fred Kovol
-
2005
Yahoo Message Number: 22138 (http://groups.yahoo.com/neo/groups/Country-Coach-Owners/conversations/messages/22138)
I have also deducted the interest on the coach and before that my boat. I believe to be a second home it must have a head (toilet), galley and the owner must live on it two weeks a year. . .doesn't have to be consecutive days. Hopefully everyone owning a counry coach meets this last qualification too!!
Check the IRS website for details.
LacamasTraveler
'98 Intrigue
2005