Boat as a permanent residence...
#3
Registered
I agree. Even if you did make the boat a principal residence all you could deduct is the interest. Better to keep the house as a principal residence - you can deduct the interest and property taxes, maybe a home office. Might even be able to qualify for some energy saving credits and anything else that might come up in the futre.
Wait a minute - are you trying to claim the boat as a personal residence so that you can be exempt from income on the sale of your boat? That would be the only good reason - but to justify the trouble you would have to make atleast a $10-20K profit, which is pretty hard to do on a boat.
Wait a minute - are you trying to claim the boat as a personal residence so that you can be exempt from income on the sale of your boat? That would be the only good reason - but to justify the trouble you would have to make atleast a $10-20K profit, which is pretty hard to do on a boat.
#6
Platinum Member
Platinum Member
Yup.
Straight out of IRS publication 936:
Straight out of IRS publication 936:
"A home includes a house, condominium, cooperative, mobile home, house trailer, boat, or similar property that has sleeping, cooking, and toilet facilities."
#7
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Join Date: Oct 2000
Location: Coastal North Carolina
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If you mean REALLY living aboard, try Passagemaker Magazine's website That's where you'll find out the hardcore stuff about actually surviving onboard.
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Retired! Boating full-time now.
Retired! Boating full-time now.
#8
Platinum Member
Platinum Member
There is a marina across the water from Boston. It has million $$ views of the city and obviously is right on the water. Electricity and water are included and there are no real estate taxes. You could spend short money on a large old boat and live for cheap. I woudn,t do that , but there are alot of people that do.
#9
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Join Date: Jul 2006
Location: Glasgow, UK
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I lived on a boat in Scotland for about 6 months solid. One thing I would recommend is not only make sure you have the right boat, make sure you have the right marina.
The one I was in had a great friendly community, plenty of services and close to all shops and the essential bars and restaurants etc.
If I could afford it I would be living on a boat today!!
(Plus its quicker and easier to clean than a house!!)
Greig.
The one I was in had a great friendly community, plenty of services and close to all shops and the essential bars and restaurants etc.
If I could afford it I would be living on a boat today!!
(Plus its quicker and easier to clean than a house!!)
Greig.
#10
Neno the mind boggler
VIP Member
what ya got in mind Neil? i know some people that have done it up here but winters kinda suck. Hell in the summer i spend about 3 nights a week on my boat. and yes, whatever you do get the biggest boat you can. i am thinking about picking up a Gran Sport i found at the right price just to park next to my Scarab an pretty much use as a summer home although my Scarab has plenty of room to keep me happy.
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Throttles- Cleveland Construction 377 Talon
08 OPA Class 1 National Champion
08 Class 1 Geico Triple Crown Champion
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10 OPA Class 1 National Champion ( happy now Ed! )
Throttles- Cleveland Construction 377 Talon
08 OPA Class 1 National Champion
08 Class 1 Geico Triple Crown Champion
08 OPA High Points Champion
10 OPA Class 1 National Champion ( happy now Ed! )