Is interest and maint for travel trailer and real tax for lot (all purchased on personal loan) deductible?
by admin on Tuesday, April 5th, 2011 | 2 Comments
I purchased a travel trailer and RV lot using personal loan. I do not plan on renting but using as second home. What can be deducted on taxes?
if you have a property tax which may be included in your license, a part of that is deductible, possibly if this was a large vehicle purchase you can still claim the sales tax(this is the part of the delay on the Sch A by IRS, not accepting those returns until mid Feb)
Unless the property secures the note, you can’t deduct the interest.
Property taxes yes.
Maintenance no.