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January 20, 2021
Question

I bought a camper this year. Is the interest paid on the loan tax deductible? Likewise, I received an Account Summary instead of a 1098. Is this the same thing/provide the same information?

  • January 20, 2021
  • 1 reply
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1 reply

ColeenD3
January 20, 2021

It can be. It would have to qualify as a home.

 

The Internal Revenue Service (IRS) defines a home broadly, allowing the term to encompass:

  • Houses
  • Condominiums
  • Cooperatives
  • Mobile Homes
  • RVs
  • House Trailers
  • Boats

The test the IRS applies is simply that the property must have all three:

  • sleeping
  • cooking and
  • toilet facilities

If so, it can be treated as a primary or secondary residence for tax purposes.

 

For more information, please see this LINK