SailNet Community - View Single Post - need advice on financing a boat
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post #21 of Old 03-21-2011
MikeinLA
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If you do use a home equity loan, please check with your tax person on the deductibility of the interest. There are limits which involve the basis of your home, etc. It is often overlooked by the IRS, but you can be liable for recapture under some circumstances. Wouldn't want you to get surprised. I agree to pay cash if you can.

Mike
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