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2014 Ram Promaster 2500 159" diesel
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Discussion Starter #1
I know I should be asking on a tax forum. I have looked and found it to be legal. The RV can be declared as a second home and you can deduct interest payments. If you install solar you can take the 30% credit. Since I will be buying in the near future and was wondering if anybody has done it.
 

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I hadn't thought about the interest deduction as a second home (RV) on taxes, but it's worth exploring!

Research so far indicates it can be defined as an RV if it has sleeping, toilet and cooking capability..... Hmmmm. Porta-potty, Cot, Propane stove?

More research needed on my end, but worth pursuing!

Ed
 

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2014 Ram Promaster 2500 159" diesel
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Discussion Starter #4
Solar is a go as it will be a qualified home when solar is installed. Tubo tax fills the forms for you just make sure you have all the documents and proof of build.
2014 draft for energy credits
http://www.irs.gov/pub/irs-dft/i5695--dft.pdf
interest deduction looks to be a no go
"secured by a qualified home " this is a gray area, also since i'll be buying a truck and converting to an RV the loan will not be for a qualified home another gray area. Plus i'll be trading in a truck so the payment and interest will be small and not worth it.
http://www.irs.gov/pub/irs-pdf/p936.pdf
Qualified Home
For you to take a home mortgage interest de-duction, your debt must be secured by a quali-fied home. This means your main home or your second home. A home includes a house, con-dominium, cooperative, mobile home, house trailer, boat, or similar property that has sleep-ing, cooking, and toilet facilities.
The interest you pay on a mortgage on a home other than your main or second home may be deductible if the proceeds of the loan were used for business, investment, or other deductible purposes. Otherwise, it is consid-ered personal interest and is not deductible
 
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