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Tax deduction for interest on boats used
as second homes

July 8, 2011 - BoatU.S. has sent letters to the leadership of the United States House of Representatives and Senate regarding proposals to no longer allow the interest paid on boats that are used as second homes to be tax deductible. We recognize the serious fiscal issues our nation faces and we fully understand the need to consider all of the revenue options available, including this tax deduction. However, it is not appropriate to single out recreational boats while keeping RVs, lake cabins, and ski condos eligible for the tax deduction. If Congress wishes to raise money through a change in the second home mortgage interest deduction, it should apply universally and not unfairly penalize Americans who choose boating as their family recreation. Click here to see a copy of the BoatU.S. letter.