Ask Experts Questions for FREE Help !
Ask
    pec12345's Avatar
    pec12345 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 18, 2009, 01:12 AM
    2008 motorhome deductions
    In dec 2007 we bought a new motohome to live in while travelling for work as a travel nurse. I heard that Pres Bush Sr passed a law allowing the deduction of the purchase price of the motorhome over 4 years.. it seems hard to believe but I searched online but found nothing.. it this deduction valid??
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Nov 18, 2009, 10:02 AM
    A motorhome may be considered a SECOND home for tax purposes, which means you can deduct the interest paid on the loan for the motor home as an intemized deduction on Schedule A.

    You could possibly depreciate the motor home on Form 4265 if you got paid as an independent contractor under Form 1099-MISC for your nursing work.
    Five Rings's Avatar
    Five Rings Posts: 459, Reputation: 7
    Full Member
    		  
    #3

    Nov 18, 2009, 02:10 PM

    See also:
    Publication 587 (2008), Business Use of Your Home

    It all depends on the circumstances. See the instructions for Form 4562:
    Instructions for Form 4562 (2009)
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Motorhome Financing after Bankruptcy? [ 3 Answers ]

We have established good credit after our BK 3 1/2 years ago. We are wanting to upgrade our motorhome but keep getting turned down because of our past bankruptcy. Any suggestions?

2008 new rule about itemized deductions? [ 2 Answers ]

Hi, Can some one please confirm if it is true that there is a new rule where in if a person can claim itemized deduction for expenses only if the person is in the US for less than 12 months? I can't find any documents stating this, if you have any links please let me know. Thanks. ...

'91 Chev P-30 Motorhome chassis [ 1 Answers ]

The electronic odometer only shows dashes across the display. Any ideas how to fix this problem?:)

View more questions Search