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Can I put the finance charges I paid on my boat on my taxes I lived in MD?

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  • 1 decade ago
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    What kind of boat?

    If the boat has dining, sleeping and bathroom facilities, it can be treated as a second home making the interest deductible as mortgage.

    If it doesn't have ALL of the above facilities, it is non-deductible personal interest.

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  • 1 decade ago

    No, because a boat is a vessel and not real property like a house.

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