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Old 28-01-2005, 04:09   #1
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Tax Deductible (US) ?

Your boat interest could be tax deductible (USA) !
The criteria to claim your boat as a “Second Home” (for US tax purposes) is that it have “basic living accommodations, such as sleaping space, a toilet, and cooking facilities.”
To boaters, that essentially means a berth, and enclosed head, and a galley.

See “IRS Publication 936": http://www.irs.gov/pub/irs-pdf/p936.pdf

Don’t qualify? Get a bigger boat ...

FWIW,
Gord
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Old 28-01-2005, 10:29   #2
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Yes

All the interest against the loan is dedutable as a second home. It worked for me!
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