No Tax on Boat Loan Interest Act of 2026 allows deduction of interest on boat loans.
The No Tax on Boat Loan Interest Act of 2026 amends the Internal Revenue Code to include watercraft as applicable passenger vehicles for the purpose of deducting personal loan interest. This change allows taxpayers to deduct interest on loans used to purchase recreational motorboats. The amendments apply to indebtedness incurred after December 31, 2024.
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