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New Member
posted Jun 3, 2019 5:29:51 PM

Can I deduct interest from a boat loan? I received a 1098 from my bank on this

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1 Replies
Level 2
Jun 3, 2019 5:29:53 PM

It could possibly qualify for the residence interest deduction (an Itemized Deduction on a Schedule A). In order to qualify it has to have sleeping, cooking and toilet facilities. Your local law must allow for such use.