- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
There is a nice graphic here:
https://www.tripsavvy.com/types-of-motorhomes-2912600
Basically, you have to determine the business use, reason for the vehicle, or it is treated as real estate. Examples:
Site Office (construction site, sales on site, etc)
Air BnB (rental income)
Drive it to rallies as a vendor
Used for personal camping (primary residence, second home) and if personal use, was it taxed as a fringe benefit?
https://www.irs.gov/taxtopics/tc415
That's why %s matter
If mixed use, then mileage matters.
Everything matters. It's not unusual to have a taxpayer who believes putting it in the name of the company turns it into a business asset. There is a story on the web for an RV registered under a business name, and reported on business taxes, which voided the warranty.
Don't yell at us; we're volunteers