Deductible Interest

[Terry D EA]

I am sure I know the answer to this question but thought I would throw it out there anyway. Client financed a pontoon boat. Interest is not deductible correct? This is not a RV but maybe considered a house boat maybe. What say ye?

[jklcpa]

Debt must be secured by a qualified home, either the main home or second home, and it must have cooking, sleeping, and toilet facilities.

I took a vaca on a house boat that was pretty nice and was technically a pontoon boat.

[Jack from Ohio]

Agree

it must have cooking, sleeping, and toilet facilities.

[Terry D EA]

Well let's see. A gas grill mounted on the deck, a porta john and a sleeping bag with a cot. There you go now it's deductible!!! Just kidding.