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Old 09-04-2013, 14:20   #1
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Tax treatment of yachts leased Moorings and based outside the U.S.

We purchased a catamaran from Moorings last August 2012 and leased back to them under their guaranteed income program (5 years); the cat is based in the BVI (so not US waters). This is the first year in which we need to reflect all this in Federal and State (MD) income taxes. Does anyone have a recommendation for CPAs experienced in this matter -- preferably in the Washington DC-Bethesda-Baltimore-Annapolis area (though could be elsewhere if the person/firm is good, we would simply have to deal by internet). Thanks very much for any advice.
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