Can I deduct interest for a business asset that is being depreciated? If so, how/where?

cbrown1679 · ‎June 4, 2019

WillK · ‎June 4, 2019

Yes, the interest that is being paid would be reported under interest in the business expense area of the return. You do not report each interest you pay separately, it is reported on one line item on the return. If there is not an interest expense category, you can create one.

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WillK · ‎June 4, 2019

Yes, the interest that is being paid would be reported under interest in the business expense area of the return. You do not report each interest you pay separately, it is reported on one line item on the return. If there is not an interest expense category, you can create one.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Can I deduct interest for a business asset that is being depreciated? If so, how/where?