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    #1

    Boat used

    exclusively for business, cruise service, when sold the depreciation is recaptured as ordinary income???? All cruises were short term. Boat was never used for any other purpose(second home-not). $250,000 boat, 1245 recapture all taxable at sale even if sold on an installment basis???? Am I missing something or are there alternatives I should be sonsidering...
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    #2
    Originally posted by JON View Post
    $250,000 boat, 1245 recapture all taxable at sale even if sold on an installment basis????
    You are correct.

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