Boat as use for vendors are anything tax deductibl...
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New Member

Boat as use for vendors are anything tax deductible? Boat slip rent, cost of boat?

I am looking at buying a boat people can sleep in for vendors from another state. They flood my area and this would be great for my business to have the boat to offer to them for their use. Is my dock rental or any cost of the boat deductible on schedule 1040?

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Level 7

Boat as use for vendors are anything tax deductible? Boat slip rent, cost of boat?

That would be a rental property  reported on schedule E  Your  boat would be an asset that you depreciate over time. Expenses like the boat slip are prorated between personal and rental if they are used for both .

https://finance.zacks.com/type-property-irs-considers-residential-rental-property-9946.html

Disclaimer: Not a tax professional. Information gathered from internet links. Anything dated in June 2019 was posted in prior years and is before the 2019 limits and changes.
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New Member

Boat as use for vendors are anything tax deductible? Boat slip rent, cost of boat?

What if you let vendors use it at no charge?

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Level 15

Boat as use for vendors are anything tax deductible? Boat slip rent, cost of boat?

Then it is not a rental ... it is a personal use property that you lend out to friends/family/vendors at no charge so there is nothing you can deduct on a business return.

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New Member

Boat as use for vendors are anything tax deductible? Boat slip rent, cost of boat?

Thank you

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