–> Your Ticket to a Deductible 2nd Home Adventure

Hello, fellow adventurers! 🏕️🚤⚓ Ready to turn your camping or boating dreams into a tax deduction reality? Buckle up because we are diving into the wild world of claiming your camper or boat as a second home.

🚐 Camping and ⚓boating have become a trendy adventure for many families, mine included. According to the RV Industry Association, approximately 11.2 million U.S. households now own an RV, with a significant portion of those owners using the RV as their second home. While Statista found over 11.96 million leisure boats were registered in 2021.

🏕️🚤 Today, I will explore the tax criteria and benefits of having a mobile second home. ✨

Home Away from Home Criteria:

1. Sleepy Time Sweet Spot: Your camper or boat needs a snooze zone. It is not a second home if it is just a snack shack. 🛌🍔

2. Bare Necessities: Running water, a toilet (yes, please), and a cooking area – it is like a mini-house on wheels or afloat. 🚿🚽🍳

3. Sleepover HQ: You have to actually sleep there! Do not claim your camper or boat if you are just a ghost that passes through. 👻😴

4. It’s Exclusive: Sorry, no timeshares here. Your camper or boat cannot moonlight as someone else’s second home. 🌙❌

Home Away From Home Deductions:

Cozy Comfort: Roll those camping or boating expenses into deductions – think mortgage interest, property taxes (yes, really!), and more.

Remember, tax rules can be more twisty than a mountain road or the ocean currents, so keep receipts, records, and that sense of adventure alive! 📝🧭 Claiming your camper or boat as a second home is like getting paid to explore – just make sure you are playing by the deduction rules. Happy trails and happy deductions! 🌲🌄💸

💸  So start saving those receipts and contact your trusty CPA for more information!