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#4071
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![]() ![]() A yacht deduction certainly seems like one of those tax loopholes for the rich, but it’s actually a creative use of the mortgage interest deduction anyone can take. In 2018, you can deduct the interest you pay on up to $750,000 in mortgage debt. In order to be eligible, a “home” has to have sleeping, cooking and toilet facilities, which can be a mobile home, trailer or boat. If your primary home is paid off, you could deduct the mortgage interest on that yacht instead. |
#4072
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#4073
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#4074
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#4075
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#4076
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#4077
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#4078
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#4079
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#4080
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