Recreational VehicleTax Deductions
Wed Aug 26, 2009
Author: RBM
Source: RVDA
To qualify, the Internal Revenue Service (IRS) has ruled that:
The RV must be used as security for the loan.
The RV must have basic sleeping, cooking, and toilet.
Nearly all RV types -- motorhomes, travel trailers, truck campers and many folding camping trailers -- are equipped with these facilities*
So enjoy the benefits of RV travel and get a tax advantage too!
*An RV with full facilities can qualify as a "dwelling unit" under the IRS code section 280A(f)(1). The U.S. tax court case of Haberkorn v. Commissioner, 75 T.C. 259 (Nov. 12, 1980 filed) gives further guidance on the tax deductibility of RVs. Taxpayers many not claim the interest from more than two qualified homes on their tax returns. Ask your tax adviser for more information or click the link below.
Additional Information: http://www.rvda.org/AM/Template.cfm?Section=Home1&CONTENTID=7252&TEMPLATE=/CM/HTMLDisplay.cfm
