jag1886

I have only one credit card and pay it off every month.

TerryD64

Yep, this issue is coming up in many RV forums for 2018 after the tax code changes.

Best advice I have seen is "Check with a Tax professional" as it is not a simple yes no question.

acdii

Well....damn, I haven't started my taxes yet, but sure enough, http://rvlife.com/new-tax-bill-2018/ Has to be motorized to qualify now.

F'n politicians.

i2oadi2unnei2

Well that sucks...I hate all politicians equally so there, yes, I said it. I'm an equal opportunity ___________ you fill in the blanks... sigh....

acdii

OTOH, there is this article published 6 days ago.

https://rvtailgatelife.com/2018/rv-tax-deductions

Apparently the "motorized" portion is in relations specifically to dealers, not consumers. I will see what TurboTax says. I did receive a 1098 from the lender though.

F175

That's crazy pants!

SailorSam20500

Got one more month on mine. 8-). Heard that Camping World is pushing 20 year loans on RV's. RIDICULOUS! One thought, for those who are able, a home equity loan may be the best option to buy a trailer to get the lowest interest rates. Otherwise, always look for finance options from places other than the dealer. Credit Unions are often good options.

danlexani

every joe smoe was happy to see and extra $30 bucks on their paycheck with this awesome tax plan for the filthy rich passed the other year...... as tax time has begun on a full year after..... most of us will begin reaping what we've sown
elections have consequences ladies and gentleman

jag1886

Has to be motorized to qualify now.

So the rich a-holes get to keep there tax deduction, why doesn't that surprise me.

acdii

According to the IRS, https://www.irs.gov/publications/p936, an RV is considered for interest deductions IF it qualifies under certain conditions. First must be a secured loan, IE the RV is the collateral on the loan, second, it must have a cooking area, full bath and a place to sleep.

Also, https://ttlc.intuit.com/questions/41...-a-second-home, TurboTax also says it is deductible.

What is confusing people is that the Tow Vehicle is no longer deductible, that means you can no longer deduct interest on the truck that tows the trailer (didn't think you ever could).

Here is another one, https://tax-queen.com/rv-tax-deductions/

So according to the IRS, and tax preppers, the RV interest is still 100% deductible as long as conditions are met. If your account say's otherwise, heh, you might want to find a different accountant.

I think this article pretty much puts it in the clear too. https://rv-dreams.typepad.com/rvdrea...-on-rvers.html

What is being confused in all this is the interest on floorplan loans, those are the loans dealers take out to get RV's on their floor to sell. The additional wording about motorized vehicles was also being confused by RVIA, but in essence, interest on tow vehicles is not deductible, just poorly worded.