[Rhodes22-list] R22 as a second Home?

[Leland]

Bob,

Looks like you've received some good tax advice:

http://www.boatus.com/pressroom/release.asp?id=631
http://www.boatus.com/pressroom/release.asp?id=631 

"The Boat Loan Deduction
For those owners with a secured boat loan, mortgage interest paid on the
loan may be deducted from your federal income taxes. Taxpayers may use the
home mortgage interest deduction for one second home in addition to their
primary home, and must itemize deductions on their returns. A boat is
considered a second home for federal tax purposes if it has a galley, an
installed head and sleeping berth."

Sounds like a portapottie may not qualify as an installed head.

Go for a new Rhodes with Stan's swell head!

Lee
1986 Rhodes22  AT EASE
Kent Island, MD


Harbrlife wrote:
> 
> Greetings from snowy NH. Well as I sit inside doing my taxes this year
> I've read for the first time "deductions for second homes". So I have to
> ask, anyones R22 deducted off taxes as a second home?
> This might actually mean I buy a "New" over "recycled" boat!
> Thanks in advance,
> Bob
> Sunapee, NH
> 

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