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RV 2nd home

MGC94
Level 7

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? 

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3 Comments 3
Just-Lisa-Now-
Level 15
Level 15
Interest and property taxes, just like any other residence.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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dascpa
Level 11

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.

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TaxGuyBill
Level 15

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.