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zjbj9295
New Member

Can we claim interest paid on loans?

 
1 Reply
Marketstar
Level 7

Can we claim interest paid on loans?

What type of loan?

Personal interest is not deductible.

Personal interest is any interest that is not home mortgage interest, investment interest, business interest, or other deductible interest-such as student loan interest

 It includes such-as interest paid on auto loans, unsecured loans and credit cards.


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