I bought a boat to offer it for short term rentals (I already do so for other property). On the day I picked it up to bring it to its new home marina, while in transit the boat stalled and couldn't start back up (I ended up having to call the Coast Guard). Thankfully it drifted ashore and I was able exit the boat and tie it down; a snow storm had also started during the ordeal, so I left to wait out the storm. Two days later, after the storm, I went back to find the boat sunken. It was a total loss (and more -- I had to pay for disposing of it, but since this all happened in December, the additional costs ended up hitting the following tax year). My question is, would the boat qualify as a business property casualty given that I hadn't yet rented it to anyone? Thanks in advance!
