"Dene" wrote in message
. ..

"Denis Marier" wrote in message
...
I have hear that (In the US) when you buy a sailboat suitable to live
aboard
the interest paid on the loan are tax deductible.
I would appreciate if someone can enlightens me on this subject.

TIA

If it has a head and galley, then you can deduct it as a 2nd home. That
feature was a real selling point with my wife.

-Greg

True enough, but that's not the end of the story of course. The IRS can
audit you nevertheless. You will need to show that you actually have been
using it as such. In addition, if it's very close to where you live, they
may disallow it. I believe it also has to have sleeping accomodations. I'm
not a CPA, so I suggest asking one before you attempt it. "Vacation" homes
are one of the many red flags that could (but don't always) precipitate an
audit.

--
"j" ganz @@
www.sailnow.com