I learned I can deduct the interest I paid on my auto loan because I used my car for business as well as personal use. I can't find where on schedule c to place it. There are no specific instructions on the Schedule C instruction sheet for where to place this deduction.
You'll need to sign in or create an account to connect with an expert.
This would be added to the interest expense category. If there is not an interest expense category you can add one. Make sure you are only reporting the interest from the loan and not the principal itself.
This would be added to the interest expense category. If there is not an interest expense category you can add one. Make sure you are only reporting the interest from the loan and not the principal itself.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
RustyShackleford
Level 3
49user
Level 1
MelsDeli
New Member
JJ99000
Level 1
mceccarelli
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.