MGC94
Level 7
05-03-2022
06:42 AM
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What can you write off for RV 2nd home? Int paid or only 1098 int on a line of credit against the main house? Lot rent? Property taxes?
Labels
Level 15
05-03-2022
08:41 AM
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Interest and property taxes, just like any other residence.
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dascpa
Level 12
05-03-2022
09:14 AM
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Looks like taxpayer took out a home equity LOC on their principal residence to purchase this "2nd home". Dot your I's and cross your T's to make sure this is qualified mortgage interest.
TaxGuyBill
Level 15
05-03-2022
12:20 PM
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If the loan was 'secured' by the RV/2nd home, then the interest would be deductible.
If the loan was 'secured' by the primary home, most people interpret the interest for the RV as not deductible.