The Boat Loan Interest Deduction Act of 2026 would allow taxpayers to deduct interest payments on loans used to purchase recreational boats, similar to the existing deduction for vehicle loan interest. Currently, the tax code permits interest deductions for loans on certain passenger vehicles like cars and trucks, but boats are not included. This bill expands that deduction to cover recreational motorboats that are manufactured in the United States. The legislation applies to boat loans taken out after December 31, 2025, and requires taxpayers to report the hull identification number of the boat on their tax returns when claiming the deduction. This change would primarily benefit individuals who finance boat purchases through loans.
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