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Interest Paid on a Loan to Buy a Motor Home is Deductible Mortgage Interest

Taxpayers generally are not allowed to take interest expenses as deduction on their individual tax returns. However, the IRS does allow taxpayers to write off mortgage interest on their first and second homes. A motor home or RV can qualify as a second home as long as it’s self contained. In other words, if your RV has eating, sleeping and sanitary facilities and you have a loan to purchase the RV, we should be writing the interest off on your Schedule A.

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January 8, 2016

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