"Lost" Boat

My client, who has been living on a boat, called for her appointment this year. It seems she and her husband have been evicted from their slip at the marina because the harbormaster doesn't want a wooden hulled boat messing up his domain. He also doesn't take kindly to the husband who vaguely resembles Jeremiah Johnson in appearance and is a highly paid aerospace technician. After searching around the local area (Huntington Beach, Newport Beach, Long Beach, San Pedro - lots of beaches here) they could find no marina that would take the wooden boat. They were forced to buy a motorhome to live in since they were evicted from the marina. The harbormaster has told them that they have to move the boat somewhere or he will have it removed. They just gave up and left it in the slip. Can they deduct the loss of the boat due to some kind of calamity? It was not eminent domained. It was not actually stolen but they were forcibly deprived of its use. I'm trying to get her to get an appraisal of the boat. I'm also wondering what the harbormaster is going to do with it. Linda Dorfmont E.A., CFP, CSA

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Reply to
DORFMONT
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Is anybody going to comment on this situation?

Linda

Moderator: How is this different from not having your lease renewed and being unable to move some major furniture?

Reply to
DORFMONT

I don't see any standing for a deductible loss of any sort. Apprently no one else does either or they would have jumped in with a response.

Reply to
Bill Brown

Come think of it, have them donate it to a 501(c)(3).

Dick

Reply to
Dick Adams

I think you just have a personal abandonment. Nothing deductible. :(

-- Bruce Davidson Cantor, CPA, JD Admitted in Colorado

Reply to
bc

Plus of course being busy this time of year. But really, here is a personal loss entirely. (waves to Linda!)

ChEAr$, Harlan

Reply to
Harlan Lunsford

Thanks, everyone. They did donate their other boat, also at the same marina, a few years ago. I'll call her this morning and tell her to contact that charity. Apparently they will take boats. Linda

Reply to
DORFMONT

How is this any different than being evicted from a mobile home park, because your house is too old or the park is closing? I've been involved in that situation with a friend and although it cost over $12,000 to relocate, the MHP owner offered nothing in compensation. Life is not always fair, especially if you are elderly and live in non- standard housing.

Reply to
Herb Smith

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