{"id":12234,"date":"2020-02-07T06:00:09","date_gmt":"2020-02-07T10:00:09","guid":{"rendered":"https:\/\/www.rvusa.com\/blog\/?p=12234"},"modified":"2023-10-04T14:03:12","modified_gmt":"2023-10-04T18:03:12","slug":"rv-ownership-and-taxes","status":"publish","type":"post","link":"https:\/\/www.rvusa.com\/blog\/rv-ownership-and-taxes\/","title":{"rendered":"RV Ownership and Taxes"},"content":{"rendered":"

One thing we can\u2019t avoid is doing our taxes each year. But, when you own an RV, you learn about a few benefits you qualify for that people without RVs simply can\u2019t get. Doing your taxes definitely isn\u2019t fun and can be rather stressful, it\u2019s comforting knowing your weekend getaway vessel comes with a few hidden benefits you never knew you could receive.<\/p>\n

There are a few questions to ask yourself before we get down and dirty about deductions. Does it matter what kind of RV you have? Does it have to have an engine like a Class A or can you claim your fifth wheel or travel trailer on your RV taxes?<\/p>\n

Let\u2019s take a look at some rules and limitations and a few other things to consider when it comes to claiming your RV on your taxes.<\/p>\n

 <\/p>\n

Your RV: A Second Home?<\/strong><\/h3>\n

 <\/p>\n

Like we said earlier, depending on the size and basic features of your RV, it might qualify as a second home. This will allow you to write the interest off on your taxes. This can come as a major blessing for part-time RVers. The rules for your RV to qualify as a second home haven\u2019t changed over the years: it simply must have sleeping, cooking and toilet facilities. That\u2019s pretty basic, so your RV more than likely does <\/em>meet the requirements to be a second home!<\/p>\n

While many RVs do qualify, most vans probably don\u2019t, because many don\u2019t come with a toilet.<\/p>\n

If you\u2019re a full-time RVer<\/a>, worry not! You are still able to take advantage of a home loan interest without your RV being your backup home. If you\u2019re living full time in your RV, it qualifies as long as it has the above requirements \u2013 sleeping, cooking and toilet facilities.<\/p>\n

In other words, if you\u2019re living in an RV with a sleeping area, a toilet and a place to cook, you should be able to write off interest on your taxes. There might be some small print and restrictions, so to be sure, consult with a tax professional before assuming your RV fits the requirements.<\/p>\n

An RV Used for Business<\/strong><\/h3>\n

 <\/p>\n

It\u2019s not common, but there are people who choose to use an RV as their business \u201coffice.\u201d Not only is this unique, environmental, and pretty awesome, but they\u2019re also able to get tax deductions if they use it in this way. You can write off lots of the expenses tied to it on your taxes. The whole RV may even qualify as a business deduction.<\/p>\n

There\u2019s a catch, here \u2013 be careful to never use the RV for personal use. Even just a trip or two a year could disqualify it from being considered a business. If you live full time in your RV and <\/em>work inside it (we know many of you do), then it\u2019s possible you\u2019re able to deduct specific business-related expenses, depending on what they are and if they\u2019re used strictly for the business. It can get sort of unclear and tricky here, so it\u2019s best to reach out to a tax professional to see what qualifies.<\/p>\n

Secured Debt<\/strong><\/h4>\n

Another thing to consider is to qualify, your mortgage must be a secured debt. This means, quite literally, that your RV must \u201csecure\u201d the debt. If you don\u2019t pay the loan, the bank might take your RV to pay the outstanding loan amount.<\/p>\n

Not sure if yours is? If you chose to finance through a large or major bank, the loan is more than likely a secure debt. But, if you attained a personal loan to get the money, it\u2019s not secure. In most states, you can tell if your RV is secured by the Certificate of Title from the local tag agent.<\/p>\n

With all of this being said, don\u2019t buy an RV just for the tax reduction. RVs are expensive and depreciate quickly. Any potential tax breaks you\u2019ll receive simply won\u2019t be worth it. But, if your main reason for buying an RV is because you want one, then you should definitely try to minimize the tax burden if you can!<\/p>\n

We know it can be incredibly stressful and downright difficult to know what does and doesn\u2019t qualify when it comes to taxes, but it\u2019s critical to never make assumptions when handling any kind of taxes. Unless you fully understand the ins and outs of taxes, it\u2019s a good idea to consult an accountant or tax professional to make sure you\u2019re handling everything legally. There may also be recent changes to tax laws you\u2019re simply unaware of, so that\u2019s why it\u2019s smart to work side by side with a professional.<\/p>\n","protected":false},"excerpt":{"rendered":"

One thing we can\u2019t avoid is doing our taxes each year. But, when you own an RV, you learn about a few benefits you qualify for that people without RVs simply can\u2019t get. Doing your taxes definitely isn\u2019t fun and can be rather stressful, it\u2019s comforting knowing your weekend getaway vessel comes with a few […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[12],"tags":[2408],"class_list":["post-12234","post","type-post","status-publish","format-standard","hentry","category-rv-buyers-guide","tag-rv-buying"],"yoast_head":"\nRV Ownership and Taxes - RV Lifestyle News, Tips, Tricks and More from RVUSA!<\/title>\n<meta name=\"description\" content=\"RV Ownership and Taxes: it\u2019s critical to never make assumptions when handling any kind of taxes... recent changes to tax laws you\u2019re simply unaware...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rvusa.com\/blog\/rv-ownership-and-taxes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RV Ownership and Taxes - 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