RV Depreciation for 2024 taxes

Most Popular Reply

John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
1y

I googled it and found this:

If you rent it to tenants, you would treat it as a rental and report it on a Form Schedule E. Per IRS, it is depreciated over five years. 

1Reply
See this reply in the discussion

5 Replies

Jump to latestLatest
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    1y

    I googled it and found this:

    If you rent it to tenants, you would treat it as a rental and report it on a Form Schedule E. Per IRS, it is depreciated over five years. 

    1Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    1y

    Hey @Alicia Howard, as far as I know @John Underwood is correct.

    I would get with your CPA and go over this as you want to be sure.

    1Reply
  • Alicia Howard
    OP
    Member since 2020 · 3 posts · 1 vote
    1y

    Thanks! I keep finding conflicting information and the IRS website doesn't specifically mention using an RV as a STR. Everything I'm finding says 27.5 years due to it being rental income but others say 5 years because it's an RV. However, it's a stationary RV and I believe that makes a difference. The few CPA's I've talked to don't seem to know for sure.

    0Reply
  • Linda WeygantPro Member
    Investor and CPA · Arvada, CO · Member since 2015 · 2k+ posts · 3k+ votes
    1y

    To throw a wrench into things, if we were talking about real property/structures that were being short term rented, it's possible/likely that your depreciation period would be 39 years, not 27.5.

    However, a vehicle - which is what an RV is, regardless of how you're using it - is 5 year property.

    Podcast Guest on Show #244
    0Reply
  • Ashish AcharyaBusiness Member
    CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
    1y

    @Alicia Howard Since your 5th wheel RV is used exclusively as a short-term rental property and does not move, its depreciation depends on its classification. If the RV is not permanently affixed and retains mobility, it is considered personal property and depreciated over 5 years under the Modified Accelerated Cost Recovery System (MACRS). This also makes it eligible for bonus depreciation (60% in 2024) or Section 179 deductions if criteria are met.

    However, if the RV is permanently affixed to the campground site and functions as part of the real estate, it may fall under residential property classification and depreciate over 27.5 years. However, if it is an STR, the depreciable life would be 39 years. To determine the correct treatment, consider the RV's permanence, utility connections, and business use.

    This post does not create a CPA-Client relationship. The information contained in this post is not to be relied upon. Readers should seek professional advice.

    [email protected]941-914-7779
    INVESTOR FRIENDLY CPA®5241 Reviews
    WebsiteView Page
    TaxMD™ | AI-Powered Tax Planning
    WebsiteView Page
    1Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free