camper tax deduction
02-22-2005, 06:49 PM
#1
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camper tax deduction
i have a camper that is paid for
i know that the interest is tax deductable for a camper as long as you are paying for it
if i borrow money aganist the title on the camper will this be tax deductable
my wife is self emp. and we need all the tax breaks that we can find
i know that the interest is tax deductable for a camper as long as you are paying for it
if i borrow money aganist the title on the camper will this be tax deductable
my wife is self emp. and we need all the tax breaks that we can find
02-25-2005, 09:02 PM
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Why not take out a Home Equity Loan? That interest is definately deductible, as the loan is secured by your house. If you have a loan with your camper as security (which I think would be difficult) your camper has to have all the facilities of a home (kitchen, bathroom, bedroom, etc) and you have to live in it for a period of not less than 14 consecutive days for it to count as a "second home." Now, don't take this as gospel, but it's what I researched a few years ago when we bought a new camper. I leave all of this kind of stuff to my accountant.
Good luck!
DeWain
Good luck!
DeWain
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