Full-time RV and Claiming Taxes
Moderator: Mike Clay
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- Posts: 18
- Joined: Thu Nov 14, 2013 2:07 pm
- Location: Louisiana
- Cardinal Owners: 2014 3800FL
- Location: Louisiana
Full-time RV and Claiming Taxes
Looking for input on claiming sales and loan interest when living full time in an RV. I do not own a typical home, only an RV.
We purchased a 2014 3800FL Cardinal in Sep 2013 and live in it full time, in Louisiana. I will not be receiving a Form 1098 from the lender as I would for a typical home mortgage.
Can I claim any of the sales taxes incurred upon the purchase, or the monthly taxes on the loan? I can look at this from the perspective of it being a mortgage....but does the IRS?
Your experiences and input are greatly appreciated.
Rob&Roza
We purchased a 2014 3800FL Cardinal in Sep 2013 and live in it full time, in Louisiana. I will not be receiving a Form 1098 from the lender as I would for a typical home mortgage.
Can I claim any of the sales taxes incurred upon the purchase, or the monthly taxes on the loan? I can look at this from the perspective of it being a mortgage....but does the IRS?
Your experiences and input are greatly appreciated.
Rob&Roza
Rob & Roza
and Molly (yellow lab/greyhound)
2014 Cardinal 3800 Front Living
Full-time Living
No tow vehicle; we will hire it when we relocate
and Molly (yellow lab/greyhound)
2014 Cardinal 3800 Front Living
Full-time Living
No tow vehicle; we will hire it when we relocate
- Traveler II
- exempt member
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Skype name: jane-stonge - Location: Minnesota Lindstrom
Re: Full-time RV and Claiming Taxes
Our data is a bit dated, but when we were full timing back 2001-2004 we were able to take the interest off our taxes and also our sales taxes. We bought a new truck this year and will take the 7-½% sales taxes off. I’m sure it’s different per state also. When we full-timed we were residents of South Dakota and they don’t have income tax and sales tax at the time was only 3%, sometimes I wish we were still full timing.
Jim & Jane
2014 Ford 350 King Ranch, Trailer Saver BD3 Air Hitch, IS Suspension, Disk Brakes
Nights camped in 2012: 142
Nights camped in 2013: 186
Nights camped in 2014: 185
Nights camped in 2015: 232
Nights camped in 2016: 165
2014 Ford 350 King Ranch, Trailer Saver BD3 Air Hitch, IS Suspension, Disk Brakes
Nights camped in 2012: 142
Nights camped in 2013: 186
Nights camped in 2014: 185
Nights camped in 2015: 232
Nights camped in 2016: 165
- sew2bhappy
- Posts: 2482
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- Location: Oklahoma Oklahoma City
- Cardinal Owners: 2013 Cardinal 3030 5th wheel
- Location: Oklahoma Oklahoma City (base) and wherever the weather is better
Re: Full-time RV and Claiming Taxes
It's our understanding that you can claim the interest paid on the loan for your RV on IRS taxes. It is considered a second home, or first home if you're full-timing. You may not get any paper documents from the bank, but you should be able to get the info by either requesting it or online. State taxes would be based on the state you claim as your residence (usually the state your RV is registered in).
Of course all info about taxes should come with the typical "consult your professional tax preparer".
Of course all info about taxes should come with the typical "consult your professional tax preparer".
Millie Plato (married to Rplato)
2013 Cardinal 3030RS
1998 Volvo VNL610
2009 SmartCar-Bitsy
Nights out in
2018 - 93
...2015/16/17 - full time
...2011/14 - 719
National Rallies - 6
Regional Rallies - 10
FROG - 4
2013 Cardinal 3030RS
1998 Volvo VNL610
2009 SmartCar-Bitsy
Nights out in
2018 - 93
...2015/16/17 - full time
...2011/14 - 719
National Rallies - 6
Regional Rallies - 10
FROG - 4
- Don Wilson
- Region Leader Admin
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- Location: California Riverbank
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- Location: New Mexico - California
Re: Full-time RV and Claiming Taxes
I have been claiming the interest of my fifth wheel loan. My accountant says it is a second home!
Don
Don
We don't know a stranger only friends we haven't met yet!
Don
2019 Cardinal 3350RLX Luxury Edition
2014 Dodge 3500 2WD DRW Long Bed
2023 Nights Camped 33
2022 Nights Camped 24
2021 Nights Camped 46
Rallies Attended - 50
Frog - 5
Don
2019 Cardinal 3350RLX Luxury Edition
2014 Dodge 3500 2WD DRW Long Bed
2023 Nights Camped 33
2022 Nights Camped 24
2021 Nights Camped 46
Rallies Attended - 50
Frog - 5
- dpalmer
- Council, Moderator
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- Location: Ohio Wadsworth
Re: Full-time RV and Claiming Taxes
Same hereDon Wilson wrote:I have been claiming the interest of my fifth wheel loan. My accountant says it is a second home!
Don
Dave & Karen
2018 3456
2021 F350 XLT, 4x4 Dually
Rallies Attended = 22 and 3 F.R.O.G.
Full-time as of 10/1/2016
2018 3456
2021 F350 XLT, 4x4 Dually
Rallies Attended = 22 and 3 F.R.O.G.
Full-time as of 10/1/2016
- Susanna Clay
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Re: Full-time RV and Claiming Taxes
In Oregon, we don't have a sales tax, but we can claim the interest on the trailer loan (as a second home). I agree with Millie....you'll need to consult with a professional on these questions.
Mike and Susanna Clay and Rudy
2016 3850RL Estate "Proto Grigio"
2016 Chevy Silverado 3500HD Dually
2016 3850RL Estate "Proto Grigio"
2016 Chevy Silverado 3500HD Dually
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- Posts: 18
- Joined: Thu Nov 14, 2013 2:07 pm
- Location: Louisiana
- Cardinal Owners: 2014 3800FL
- Location: Louisiana
Re: Full-time RV and Claiming Taxes
I sure appreciate everyone's comments.
Rob & Roza
and Molly (yellow lab/greyhound)
2014 Cardinal 3800 Front Living
Full-time Living
No tow vehicle; we will hire it when we relocate
and Molly (yellow lab/greyhound)
2014 Cardinal 3800 Front Living
Full-time Living
No tow vehicle; we will hire it when we relocate
Re: Full-time RV and Claiming Taxes
We write the loan interest off as well. I just keep copies of my statements each month as it reflects interest paid and total it up at the end of the year and list it on my taxes. I send copies off to our tax guy each year for verification and each time he says it's a deductible item. As others have said be sure and check with your tax consultant.
Happy New Year!
John
Happy New Year!
John
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- Location: Michigan, Lakeport
- Cardinal Owners: 2010 3150 RL
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Re: Full-time RV and Claiming Taxes
I think if you contact the Bank that has your loan they can provide you with a statement that will show the amount of interest you paid.
Bill & Penny
2010 3150 RL "The Bucket List Inn
Nights out in 2013/67 and have put put 8566 miles on the Bucket List Inn
Nights out in 2014 63
Night out in 2015. 88
Nights out so far in 2016. 58
More fun to come!
2010 3150 RL "The Bucket List Inn
Nights out in 2013/67 and have put put 8566 miles on the Bucket List Inn
Nights out in 2014 63
Night out in 2015. 88
Nights out so far in 2016. 58
More fun to come!
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- Location: South Dakota Stickney
- Cardinal Owners: 2010 3640,2011 Dodge 4x4 dually
- Location: South Dakota Stickney to Arizona in the winter
Re: Full-time RV and Claiming Taxes
if you only file a short form like we do then you cannot deduct anything
Jim and Karen Higgs
2010 Cardinal 3640
2011 Dodge 3500 4x4 dually
full timing starts 6-1-2012
2010 Cardinal 3640
2011 Dodge 3500 4x4 dually
full timing starts 6-1-2012