Can we claim interest paid on loans?

posted

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.

Refinanced home loan in 2021 and took cash out -- some used for home improvements, some used to pay down other debt. How does this affect 2023 interest paid?

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

Can we claim interest paid on loans?

Can we claim interest paid on loans?

Get more help

Do you have a TurboTax Online account?

Can we claim interest paid on loans?

Do you have an Intuit account?

Can we claim interest paid on loans?

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert