STANDARD DED FOR RE TAX

[TAXMAN]

TP says he can deduct interest on motor home. State taxes mh as personal property based on value. Why can't he deduct this tax as real estate since federal treats this MH as a residence. TP can't use schedule A this year. I have not heard this one yet. Left hand says he may have a point, but right hand says NO. What ya'll think?

[Bob Hoffman]

TP says he can deduct interest on motor home. State taxes mh as personal property based on value. Why can't he deduct this tax as real estate since federal treats this MH as a residence. TP can't use schedule A this year. I have not heard this one yet. Left hand says he may have a point, but right hand says NO. What ya'll think?

The motor home is personal property not real estate.

[kcjenkins]

Just because the MH is a residence does not mean it is Real Estate. The special deduction is only for REAL ESTATE TAX, and since the MH is not taxed as real estate, the tax on it is not deductible. Tell him tax law does not have to be fair, it's just 'what it is'.

[Terry D EA]

The interest is deductible as a second home. The tax is not real estate tax but personal property tax and is deductible on Schedule A. Can't use it to increase the standard deduction.

Terry D.

[mcb39]

TP says he can deduct interest on motor home. State taxes mh as personal property based on value. Why can't he deduct this tax as real estate since federal treats this MH as a residence. TP can't use schedule A this year. I have not heard this one yet. Left hand says he may have a point, but right hand says NO. What ya'll think?

My left hand says NO! Mtg interest is deductible. Personal property tax is not.