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Tax tips for full time RVers


BoilerMike

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My wife and I are full time RVers that sold our house in 2014. We have a travel trailer. We are both retired and only income is pension.

 

We changed our domicile from Indiana to South Dakota Aug 2015. We are currently traveling the country and not staying anyone place more than 3 months.

 

Any tax advice for first full year as a full time RVer without a home? For example is RV campground rent fee tax deductible?

 

Only debt is our tow vehicle, i.e. pickup truck.

 

Thanks,

BoilerMike

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I'm not a tax person but I don't know why RV campground rent would be tax deductible. I feel it would be the same as hotel fees you would pay by while on vacation. We're just on permanent vacation. I'd hate to think I could have been deducting campground fees for 19 years. I could be wrong though. Hugs, Di

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RV living has no special tax deductibles and you could get into serious trouble attempting to deduct your travel expenses. Just as you could not deduct your cost of living in a stick house, you still can't. And just as you were able to deduct the interest paid on a loan to buy your stick house, you can also for an RV that you live in. But that is pretty much the only thing that is deductible. Your deductions now are pretty much the same as they have always been.

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As you have domiciled in a no income tax state, you won't have any state income tax deduction. Your vehicle loan plus other itemized deductions likely won't be sufficient to justify itemizing versus the standard deduction. My advice would be to pay off the loan if you can, and thereby minimize your "real" deductions so you can get your most benefit from taking the standard deduction. Defer your charitable giving as well to a future period when you may be itemizing again. You may well be able to position yourself with almost no itemized deductions but yet you still can take a healthy standard deduction ($12,600 of standard deduction for a married couple filing jointly for 2015)

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