Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

I sold a motor home in 2017 that I have had a mortgage on…

Customer Question
I sold a motor...

I sold a motor home in 2017 that I have had a mortgage on for 10 years. I have used the second home deduction for the interest. I sold the motor home for a loss, is the loss deductible?

Submitted: 2 months ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 3 minutes by:
3/28/2018
Tax Professional: Barbara, Enrolled Agent replied 2 months ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,174
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
Verified

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Unfortunately, the loss on the sale of your second home/motor home is NOT deductible because it is a personal use capital asset.

I wish I had better news for you.

Please let me know if I can assist you further.

Thank you and best regards,

Barb

Ask Your Own Tax Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a tax professionalLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Barbara Your Own Question
Barbara
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,174
6,174 Satisfied Customers
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.

Barbara is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
For 2018, is the medical deduction separate from and in
For 2018, is the medical deduction separate from and in addition to the standard deduction? … read more
Barbara
Barbara
Enrolled Agent
6,174 satisfied customers
My question is about all possible tax deductions for
Hello. my question is about all possible tax deductions for homeowners. I am planning to buy a house in 2018 and I woul like to know, which expenses I can deduct from my gross income as a tax benefits… read more
Alexander Efros
Alexander Efros
Masters of Business Administration (MBA)
42 satisfied customers
What are the requirement to claim the disability deduction
what are the requirement to claim the disability deduction on the short form … read more
abci168
abci168
Principal
27 satisfied customers
New interest deduction limitation: Our S Corp has gross
New interest deduction limitation: Our S Corp has gross receipts from rental and other business activities less than $25 million. Does the limitation apply in any way? Does it apply to residential ren… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I have heard that a person cannot itemize deductions on
I have heard that a person cannot itemize deductions on their taxes for 2019? I am a widow (age 74) and have usually itemized. Please let me know if I will be unable to do this in 2019. The only Feder… read more
Bill
Bill
Master's Degree
2,278 satisfied customers
Can a self empolyed person deduct health insurance premiums
Can a self empolyed person deduct health insurance premiums as business expense … read more
Barbara
Barbara
Enrolled Agent
6,174 satisfied customers
Can I deduct my $4000 in HOA fees that I paid personally.
Can I deduct my $4000 in HOA fees that I paid personally. They are not part of my mortgage. … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Deductibility of Surrogacy and /or egg donor expense as
Deductibility of Surrogacy and /or egg donor expense as medical deductions. What could be deductible? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
A question regarding interest deduction for time share
HI THERE. A question regarding interest deduction for time share payments. My wife and I have 2 time shares.. Blue Green .and Diamond Resorts. Both annually mail us interest paid reports for taxes. Th… read more
Carter McBride
Carter McBride
LLM
1,150 satisfied customers
Can I take mortgage interest and the standard deductions?
Can I take mortgage interest and the standard deductions? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
This questions is regarding the -business- deductibility of
This questions is regarding the -business- deductibility of living expenses (groceries, air travel, taxi, car rental) while living abroad for 9 months during 2017.-----I have a California single membe… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Can I deduct mortgage interest, real estate taxes, utilities
Can I deduct mortgage interest, real estate taxes, utilities and condo fees for a commercial rental property that I have not made available for rent? I am assuming that Building appraisal fees, and le… read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
Are funeral expenses deductible on IRS personal return? My
Are funeral expenses deductible on IRS personal return? … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Pearl. My tax question is about mortgage interest deduction.
Hi, Pearl. My tax question is about mortgage interest deduction. I had equal co-ownership of a property with my ex-fiance from January through October 2017, when I transferred sole ownership of the pr… read more
abci168
abci168
Principal
27 satisfied customers
Can a parent deduct Form 1098-E Student loan interest paid
Hi. Can a parent deduct Form 1098-E Student loan interest paid on their tax return instead of the students return. Student qualifies as the parents dependent. … read more
Fred Rook
Fred Rook
Corporate Controller
BSBA
132 satisfied customers
Monthly, I have $100.00 deducted from my personal bank
Monthly, I have $100.00 deducted from my personal bank account to meet the annual installment agreement. The January deduction was not deducted from our personal bank account. … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,045 satisfied customers
Interest deduction for S corp. finance business (factor) I
Interest deduction for S corp. finance business (factor) I borrow from a bank line of credit. … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Is the interest one pays on a personal loan a tax deduction?
Is the interest one pays on a personal loan a tax deduction? … read more
Barbara
Barbara
Enrolled Agent
6,174 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x