Question

Toy Hauler Tax Deduction

Forum|Forum|4 years ago
April 20, 2022
1 reply
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I live in CA and have a toy hauler. I also rent a home. The hauler has a bed, kitchen, and bathroom. I have it parked next to the garage and I use it often to meditate or to get away. Can I deduct the toy hauler as a homeowner? Primary home? Secondary home? Vacation home?

O

Opus 17

Employee

Deduct what? The only thing you can deduct for owning a home is mortgage interest and real property taxes.

You can deduct mortgage interest and property taxes you pay on your main home and one second home. A trailer can be considered a second home for this deduction.

Real property taxes are taxes applied to real property (which means real estate; land and anything permanently attached to the land). So even if you pay some kind of trailer tax, it is not a deductible real property tax.

If you used a loan to buy the trailer, you can count it as "mortgage" for the interest deduction, as long as the loan is secured by a lien on the trailer. If you used an unsecured loan (personal loan, credit card) or a loan secured by something else (like a home equity loan) then the loan doesn't count as a mortgage for the deduction.