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Tax implications of house equity loan for ship purchase

The 2017 federal income tax cut didn’t do numerous favors for ship owners. Real, it is possible to still subtract state sales taxes, you must decide to achieve this on either your state or returns that are federal not both. Together with interest on some loans may nevertheless be deductible on those ships that qualify being a 2nd house, this means they have to have a: Sleeping berth Galley Precisely head that is installedlavatory) Nonetheless, that 2017 income income tax cut means you can’t subtract on any second house, including a motorboat, having a HEL. Now you can subtract house …

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