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I fully intend to take the mortgage interest deduction for my boat as it meets the IRS requirements of a head, berth, and galley. This will be the first time I've done this, so I wondered if anyone had any experience with it, pitfalls, etc. Thanks in advance. -Shawn
 

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I fully intend to take the mortgage interest deduction for my boat as it meets the IRS requirements of a head, berth, and galley. This will be the first time I've done this, so I wondered if anyone had any experience with it, pitfalls, etc. Thanks in advance. -Shawn
The post may have bought you an audit:D I did it with the last boat and was told from a good friend, who is a tax lawyer, that it will not even raise an eyebrow. Try to deduct part of the mortgage for a home office and that is another story. Went a little cheaper with this boat and did not have to finance, but I would have deducted if I had.

Craig
 

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I've been doing it also. No problem at all. You got to get all the tax breaks you can this day and age. Take care......Les
 

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Eminent brother,
The little old man that does my taxes is a retired IRS accountant and he has been claiming my Parker 21 WAC since I got it...back when they still made 2 cycle engines. It's been no problem at all.
 

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No sweat-only a few rules you need to follow-certain amount of time on it-things like that.At the boat shows some dealers will explain it-in a way it lowers the overall cost. Skip
 
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