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-   -   Tax Time (http://www.forestriverforums.com/forums/f2/tax-time-3161.html)

Bill U 01-13-2009 08:52 PM

Tax Time
 
TT is financed alone, with its own note. Is the interest tax deductible? Yes it is a full TT: bathroom, kitchen, bedroom. Used for pleasure only. I assume it would be considered a second home....yes....no?
Thanks,
Bill

powerboatr 01-13-2009 10:24 PM

Quote:

Originally Posted by Bill U (Post 23460)
TT is financed alone, with its own note. Is the interest tax deductible? Yes it is a full TT: bathroom, kitchen, bedroom. Used for pleasure only. I assume it would be considered a second home....yes....no?
Thanks,
Bill

i have taken ours off as a second home every year since 1996 when we first started rving....

my bank, shows interest paid for the year and thats what i deduct
i am not a cpa..just what i do each year

Hokiehall 01-13-2009 10:49 PM

Yes, it is considered a second home and the interest is tax deductible.

chevy02 01-13-2009 11:16 PM

Same here we deduct interest also

rockwood06 01-14-2009 04:45 AM

I think the way it works, as long as it has a galley and or a bathroom it can be used as a tax write off, boats as well.:Allinarow:

KyDan 01-14-2009 10:25 AM

For what it's worth--
Turbo Tax came out late in 08 and they were going to charge you $10 extra
to print more than one return! The box did not say that on the outside.
You didn't find out until you had installed it.
There was such an uproar on Amazon and other web sites that Intuit changed
their mind.
Currently Turbo Tax for year 2008 will let you print un-limited returns
and you get 5 free fed e-files.

FYI, Amazon has the Deluxe + state for about $42 including shipping.
There are power sellers on Ebay that will ship it to you for a couple bucks less than that.
I've seen it in stores here for $59.95-- yikes!!!
Walmart.com wants $55!!

Shop carefully!! Prices vary a LOT.

Peace!
KyDan

dezolen 01-14-2009 12:12 PM

We in Canada cannot write anything off of anything but we do get universal health care.

Bill U 01-14-2009 06:18 PM

yeah but how good is the health care system working out up there. All we hear down below you is how bad it is up there.

dezolen 01-14-2009 07:58 PM

Totally untrue. System works for all. Not just the rich

powerboatr 01-14-2009 09:47 PM

Quote:

Originally Posted by dezolen (Post 23483)
Totally untrue. System works for all. Not just the rich

whats your income tax rate? for grins:feedback:


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