Tax deduction?
02-02-2009, 02:31 PM
#3
VIP Member
It probably qualifies. It's got a porch on the front and a deck on the back. 
Seriously, you need to have:
"sleeping quarters"
"galley"
"bathroom facility"
... and a correctly structured loan (i.e. boat/installment loan, NOT financed with Home Equity).
And, you do not actually have to own a "first" home to have a 2nd/vacation home (i.e. your primary residence is a rental, and you have a boat that qualifies).
"sleeping quarters" V-berth qualifies
"galley" hotplate/microwave qualifies
"bathroom facility" mounted porta-potty/pump out head qualifies
Seriously, you need to have:
"sleeping quarters"
"galley"
"bathroom facility"
... and a correctly structured loan (i.e. boat/installment loan, NOT financed with Home Equity).
And, you do not actually have to own a "first" home to have a 2nd/vacation home (i.e. your primary residence is a rental, and you have a boat that qualifies).
"sleeping quarters" V-berth qualifies
"galley" hotplate/microwave qualifies
"bathroom facility" mounted porta-potty/pump out head qualifies
02-02-2009, 04:19 PM
#5
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Location: Cleveland, OH
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so it seems that I just need to throw a microwave down there and i'm set! My bank did not send me any type of year end or interset statement for my installment loan, guess I need to call them! thanks for your help!!!
02-03-2009, 12:03 PM
#9
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Location: Linwood, Saginaw Bay
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joep29;
you don't need a microwave to qualify, a countertop or cooler/fridge is more than enough.
Carder
Besides, if you added a microwave you'd have to worry about your friends with pacemakers!!!
you don't need a microwave to qualify, a countertop or cooler/fridge is more than enough.
Carder
Besides, if you added a microwave you'd have to worry about your friends with pacemakers!!!
02-03-2009, 01:11 PM
#10
Gold Member
Gold Member
I dont do the second home thing but I do claim it as business entertainment expense. Therefore, a portion of the payment, the gas and beer are written off.
