2 weeks ago
If we had a loan for our Class C, I would assume I could deduct the payments from our profits when calculating taxes.
If you paid cash for your RV, how do you calculate the deduction? Using depreciation?
You probably can “expense” the entire amount of your cash purchase, but you should check with your accountant. Otherwise, if you had a loan, then I believe you can depreciate AND deduct the interest portion of your payments.