Tax deduction?
 

Has anyone tried to claim their fountain as a second home for a tax deduction?

Yep, but only the interest on the Mortgage is deductible if your situation qualifies you for second home status.

Carder

It probably qualifies. It's got a porch on the front and a deck on the back. :D :D



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

Carder is exactly right. I do it everyear, and it's 100% legal if your boat has a bathroom and some sort of a sink, bed.. (per my CPA).

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!!!

Yep, you ought to be able to get the amount just by calling them.

claim mine every year...

Hey we all pay so damn much for these toys..the government can help us out in a small way, right!:ernaehrung004:

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!!!

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.