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post #5 of Old 04-25-2002
halyardz
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Second home

It qualifies for interest deduction but often you have to request a year-end statement of interest paid as your lender may not do this automatically (as John above states). My sales tax in NY was not deductable (anymore)according to my accountant. There are some other expense items you can deduct if your business directly involves use of the boat. Check with your accountant. Search for Moby Dick in the hopes of writing a novel may not qualify.
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