Hmmmm... well, it's possible to deduct the interest on the loan
of a boat if you claim it's a second home (or primary for that
matter). Then, you could upon the sale of the boat, deduct
the upgrades and improvements you made to it similar to
what you would do with a regular house.

You need to check with an accountant, as this is just a guess.

"Jenny MacLeod" wrote in message
.. .


Hello,
This is my first posting, and I'm not too savvy, so please excuse
me if I ask a stupid question. One of the guys I dock near said he
read that there are some new laws this year that make it possible
for sailors to deduct a lot of equipment from their taxes. Is this
true? Where can I find out more about this? That would be great,
since I purchased my first boat this year. I'm getting all of my
paperwork together in preparation for filing on the first day
possible, which, according to the TaxBrain site, is Jan. 16, just a
week away.
Yours truly,
Jenny Mac