of 2007 expenses. Cruise Boat was last in service, S Corp, in 2006. In 2007 the boat was expected to be sold. It was transported to the broker's location and was held for sale and used by nobody. Result is no income and some small expenses $7,000-which I want to capitalize as selling expenses. I think that is fine. The loan interest on the boat is $17,000- I would like to capilize that also? How can I do that? I really would rather capitalize than have it be investment interest-which I am assuming is the only alternative? Deals on the boat have been falling through. It is a great story who may be buying the boat now, but will believe that if it gets done. Help. This is the only asset and activity in the S Corp for 2007. What elections if any are needed?
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