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March 21, 2024
Question

Can i claim the interest I paid on a loan?

  • March 21, 2024
  • 1 reply
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loan on a camper from a bank

1 reply

March 21, 2024

That depends.  If you use the camper for Business purposes, you can claim the loan interest as a Business Expense on Schedule C.

 

If you use the camper as a second home, you can claim the loan interest as an Itemized Deduction on Schedule A.

 

If you rent out the camper, you can claim the loan interest as a Rental Expense on Schedule E (you have to report Rental Income also). 

 

Here's more info on Loan Interest for RV or Camper