Can you claim an installment loan from Check n go on your taxes with an interest rate of 360+% ?

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Can you claim an installment loan from Check n go on your taxes with an interest rate of 360+% ?

No, personal interest is not deductible even if you are paying usury rates. Only qualifying mortgage interest is deductible on the Sch A.

Can you claim an installment loan from Check n go on your taxes with an interest rate of 360+% ?

Payday loans are usually a personal loan. Personal loan interest is not reported or deductible on a tax return.

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