Tax filers should consider boat deduction
Posted on 20 January 2009
Recreational boat owners who paid state sales taxes on a boat purchase, or those who secured a bank loan to finance a boat, may have tax deductions available when filing their 2008 federal income tax return. For details on the mortgage deduction, go to http://www.IRS.gov
and download Publication 936 or the Fact Sheets. For state tax deduction information, download Publication 600 that also includes state-by-state tax tables.