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New Member
posted Mar 16, 2022 5:58:22 PM

Credit card interest

Where can i deduct credit card interst

0 3 918
3 Replies
Level 15
Mar 16, 2022 6:07:54 PM

You can't, it is not deductible.

Level 15
Mar 16, 2022 7:01:04 PM

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

 

Expert Alumni
Mar 16, 2022 8:07:43 PM

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