Interest - Itemized Deduction
Boat loan Interest
When certain criteria are met, Interest on a boat loan are deductible as a second home subject to the mortgage interest rules. The boat must have basic living accomodations, such as toilet facilities, sleeping space and cooking facilities.
Need Professional Help?
If you need help with "Interest - Itemized Deduction" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.