Did You Know Interest Paid on Most RV Loans is Tax Deductible!!
An RV with full facilities can qualify as a “dwelling unit” and according to the IRS the interest paid is tax deductible just like your home loan!
To qualify for the home mortgage interest deduction, the IRS has ruled that:
- The RV must be used as security for the loan
- The RV must have basic sleeping, cooking, and toilet facilities
- The RV must be rented no more than 15 days a year
- Interest paid must exceed the taxpayers standard deduction