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Old 03-21-2011
Minnewaska Minnewaska is offline
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Minnewaska will become famous soon enough Minnewaska will become famous soon enough
If you buy with a loan secured by a boat that meets the second home test (bed, head, galley) the interest will certainly be deductible. The collateral has to be the boat, you can't borrow unsecured and just say you used to the money to buy the boat.

However, if you don't already itemize your deductions, there may not be enough interest paid on such a small loan to warrant it.

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Jeanneau 54DS

In the harsh marine environment, something is always in need of repair. Margaritas fix everything.
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