Tax Tip November 18, 2013, 05:53:25 pm Yahoo Message Number: 143694Tax season will soon be upon me and you probably won't here a peep from me until Spring... Just a reminder (this gets missed too often) - interest on your LD loan is most likely tax deductible if you itemize your deductions on Schedule A. All models of LD qualify for the tax deduction if you use the motorhome as a 1st or 2nd home.Todd Fogelberg, EA This will be my 25th tax season!! www.toddstaxservice.com (There is other info on my website that may be useful to you - I am NOT soliciting new clients)
Re: Tax Tip Reply #1 – November 18, 2013, 06:03:52 pm Yahoo Message Number: 143695We haven't been able to take the RV interest deduction for many, many years because the Standard Deduction has been more than the total of our Schedule A deductions. I still go through the exercise each year, though, of filling out a Schedule A "just in case."Linda Hylton
Re: Tax Tip Reply #2 – November 19, 2013, 10:31:12 am Yahoo Message Number: 143712We have the same situation. This is too bad, and there should be more items that can be deducted without itemizing - such as charitable contributions. I believe charity would be more generous if we were allowed to make the deductions BEFORE itemizing!Steve
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Topic: Tax Tip (Read 5 times)
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