A car loan is not tax deductible, it is considered a personal expense and personal expenses are not deductible.
3 Replies
Vanessa
Level 3
Jun 4, 2019 10:23:36 PM
A car loan is not tax deductible, it is considered a personal expense and personal expenses are not deductible.
Lolo08162000
New Member
Apr 10, 2020 11:40:09 PM
Wheee on turbot tax can i add my car payments?
JohnB5677
Expert Alumni
Apr 12, 2020 9:59:53 AM
Car loans and car loan interest are not deductible. However, you will automatically get a $12,200 Standard deduction for a single person that will offset that itemized deduction.