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New Member
posted Apr 10, 2025 8:22:35 AM

Hi. I have a business loan, which I pay monthly and have accumulated interest paid document for tax purposes. Am I able to claim this with IRS for deduction?

Can I claim interest paid on a loan for deduction?

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1 Replies
Expert Alumni
Apr 10, 2025 9:31:08 AM

Yes.  If you have a business loan, the interest that you pay is tax deductible as a business expense.