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kguip
New Member

Credit card interest

Where can i deduct credit card interst
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3 Replies
ee-ea
Level 15

Credit card interest

You can't, it is not deductible.

Credit card interest

business credit card interest related for business expenses is deducted on schedule C as interest - specifically line 16b

 

 

if you use the CC for both personal and business, no interest may be deductible because any payments would first go to pay off personal items

 

JillS56
Expert Alumni

Credit card interest

Credit card interest is not deductible on an individual (personal) return.  Business credit card interest related to business expenses can be deducted on Schedule C.   If the credit card is used for both personal and business, it cannot be deducted.

 

@kguip

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