If a Motor Home or Luxury Boat has a Bedroom it Qualifies as a Home. Having said that could the purchase of a Motor Home or Bus with a Bedroom

Asked by Dirk Knudsen and Kirra Krussman, Hillsboro, OR Tue Feb 16, 2010

Qualify for the Tax Credit?? What would a $30,000 Motor home create in the way of a Tax Credit if it did qualify?? Just Curious!

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3
Rochelle, , Beaverton, OR
Fri Feb 19, 2010
Hi,

Looks like you already received some good information, but I want to make sure you know that the credit is only available for the purchase of a primary residence. If you are not living in the boat or motorhome most of the time it would not qualify. Hope this helps.
0 votes
I have lived in this motor home now since i left Oregon in 2008. is there land available in Oregon that allows me to live in my motor home as my primary residence?
Flag Tue Jul 22, 2014
Bob Hickey, Agent, Lake Oswego, OR
Tue Feb 16, 2010
A CPA or tax attorney would be the best source for accurate input on whether an RV or Boat would qualify.
The IRS web site does address the Tax Credit and RVs

http://www.irs.gov/newsroom/article/0,,id=206291,00.html

Based on the information shown on the IRS web site, the fact that a motor home, boat or RV has a bedroom has no bearing on eligibility, but whether or not the RV is fixed to land or is just personal property and therefore not eligible.

A portion of FAQs on the IRS website says:

Q. If a taxpayer purchases a mobile home (manufactured home) with land and qualifies for the credit, is the amount of the credit based on the combined cost of the home and land?

A. Yes. The first-time homebuyer credit is ten percent of the purchase price of a principal residence. The total purchase price (mobile home and land) is used to determine the amount of the first-time homebuyer credit.

Q. Is a taxpayer who purchases a mobile home and places the home on leased land eligible for the first-time homebuyer credit?

A. Yes. A mobile home may qualify as a principal residence and it is not necessary that the taxpayer own the land to qualify for the first-time homebuyer credit.

Q. Can a taxpayer who purchases a travel trailer qualify for the credit?

A. A travel trailer that is affixed to land may qualify as a principal residence.

Q. Can an individual who has lived in an RV qualify for the credit?

A. For purposes of the first-time homebuyer credit, an RV with a built-in motor is personal property that is not affixed to land and does not qualify as a principal residence. Accordingly, someone who has owned and lived in an RV within the past three years may still qualify as a first-time homebuyer.


Q. Can I apply for the credit if I bought a vacation home or rental property?

A. No. Vacation homes and rental property do not qualify for this credit.
0 votes
Kelly Gebler, Agent, Portland, OR
Tue Feb 16, 2010
Howdy - I used to have a 28' Bayliner that cost around $30,000 when I bought it 14 years ago...as long as it had a kitchen, bathroom and sleeping quarters it was considered a vacation property and the interest was deductible the same as my interest on my home loan. Not sure about it qualifying for the 1st time home buyer tax credit though.
0 votes
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