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.
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October 28, 2008 at 10:53 am
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.
References : -
October 28, 2008 at 11:38 am
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.
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cpa -
October 28, 2008 at 12:11 pm
The payment can not be a deduction but the interest with in the payment can be.
Principal payments on homes are never deductible.
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