Is your boat your second home?

[taxman]

For you H260/H240 owners out there, are you able to claim that your boat is a second home, and so take a tax deduction on your federal taxes? The thought came to me when I filed my taxes late (with an extension!) and owed money! ThanksImpoverished of Annapolis.

 

[Guest]

I did

IRS guidelines say that the second home must have cooking, sleeping, and bathroom facilities. I have all of these on my 26, so I took the deduction.

 

[Tom M.]

Absolutely!! (nm)

 

[David Cox]

ditto

nm

 

[G. Ned Christensen]

Me too and....

I do write off the interest on my boat loan as a second residence. I am presently using my H26 as an office/apartment while I am doing business in Seattle. It works well for one person and you can't beat moorage costs versus hotel costs. Also, my accontant said to take the standard business travel deduction for each night I stay on the boat. The standard deduction is $65.00 a day for lodging. That is a big help for the selfemployed, like myself. I use a cellular modem and my laptop to do email, and faxes from the boat. I have shore power so I use a little microwave and a small refrigerator. I also get to sail when time allows!Ned ChristensenSecond Wind