2007-04-14 09:37:09 · 4 answers · asked by Ro B 1 in Business & Finance ➔ Taxes ➔ United States
Absolutely.
As long as it is completely self contained (i.e. it contains sleeping, kitchen and bathroom facilities), you could also include boats.
But you can only deduct mortgage interest for up to 2 homes. If you have more than 2, you would have to determine which ones give you the bigger deduction.
2007-04-14 09:44:16 · answer #1 · answered by Mark S 5 · 2⤊ 0⤋
I concur with Mark: as long as it has the same facilities as a home, an RV can be considered a "second home" for tax purposes, as long as all other requirements for deducting mortgage interest are met.
2007-04-14 09:50:08 · answer #2 · answered by SuzeY 5 · 1⤊ 0⤋
The payment can not be a deduction but the interest with in the payment can be.
Principal payments on homes are never deductible.
2007-04-14 16:07:32 · answer #3 · answered by Wayne Z 7 · 0⤊ 0⤋
you would be eligible to the two interest (a million,50,000) and 80C - homestead own loan critical (a million,00,000)? besides the incontrovertible fact that keep in mind homestead own loan critical fee is clubbed with different mark downs PF + Mutual money ELSS,etc. cut back of a hundred thousand yet interest you could rather avail totally from date EMI starts and possession is in place . shifting isn't necessary to avail earnings
2016-12-26 07:51:04 · answer #4 · answered by ? 3 · 0⤊ 0⤋