Boat Loan Interest Deduction Act of 2026
Latest action: Referred to the House Committee on Ways and Means. (2026-06-30)
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What this bill does
This bill amends the Internal Revenue Code to let taxpayers deduct interest paid on loans used to buy certain watercraft, in the same way an existing deduction applies to certain motor vehicles. To qualify, the watercraft must be a new recreational motorboat whose final assembly occurred in the United States. The change would apply to loans taken out after December 31, 2025.
Who it affects
It would most affect people who finance the purchase of a new, U.S.-assembled recreational motorboat, as well as boat manufacturers and lenders who would report the required loan and hull identification information.
Key points
- Expands an existing vehicle loan interest deduction to include qualifying watercraft.
- The watercraft must be new (original use with the taxpayer), a recreational vessel, and a motorboat.
- Boats whose final assembly did not occur in the United States do not qualify.
- Taxpayers must report the boat's hull identification number on their tax return to claim the deduction.
- Applies to loan debt incurred after December 31, 2025.
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1 · Your position
If you support this
Supporting this bill means allowing people who finance a new, U.S.-assembled recreational motorboat to deduct the loan interest on their taxes.
If you oppose this
Opposing this bill means keeping current law, under which boat loan interest is not eligible for this deduction.
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