New tax law

[DieselDevilDog]

[B]So what I have been reading is that you will not be able to deduct the interest on your travel trailer? Maybe I'm wrong. It will only apply to motorized RV's. If there is a legal person who can clarify, please join in. I'm one of those who makes payments to their credit union.

Thanks/B]

[Rock64]

It appears there is confusion on this, some writers have said that, but it applies the the floor plan Interest paid by dealers.
All RVs are included, as long as the mortgages on both first and second homes(your rv) do not exceed $750k, it was $1mil


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[CWSWine]

Here is a reliable link on the subject....

http://www.rvbusiness.com/2017/12/rv...t-rv-industry/

[Second Chance]

Misinformation. The deduction that went away was for so-called floorplan loans - those loans that dealers take out to finance inventory. Howard Payne on RV-Dreams.com (an attorney) read extensively on this topic and wrote it up on is blog. There have also been posts to the same effect on the Escapees forum.

Rob

[DieselDevilDog]

Thanks so much! The link was very informative............


Diesel

[IndyCamper]

Remember, however, that with the standard deduction doubling, you might not be itemizing your deductions in the future, meaning you would not be able to deduct mortgage interest.