How do you claim the interest for an rec. vehicle, if the bank won't issue a 1098 for the loan interest paid.

Question

I have a 15 yr. loan for a fifthwheel, since May I have paid mostly interest on the loan. the amount of about 1900.00 so far.

Answer 1

Your recreational vehicle has to qualify as a second home before you can take the tax. By definition, it has to have all of the facilities that a home has:

a place to sleep
a water closet
a kitchen

If you have these things, just ask for an interest statement or amount. You don't have to have a 1098 to claim it.

Answer 2

I agree with the previous poster but want to add that if they won't give you an interest statement, ask for an amortization schedule and calculate the amount of interest you paid yourself.

Answer 3

Interest on vehicles isn't deductible, and hasn't been for quite a few years now.