turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I had a business loan and the interest was reported on a 1098, how do i report this when I am doing my taxes

A personal loan that I had reported the interest on a 1098, how do I put this in, when doing my taxes

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

I had a business loan and the interest was reported on a 1098, how do i report this when I am doing my taxes

If you took out a loan for your business, the interest is deductible on your business return.  You will find the option for interest in your business interview.

  • Select Business Income & Expenses and Start or Update 
  • Choose to Edit your business or Add A Business on the next page
  • When you get to the page "Your [Name] Business," scroll down to Business Expenses
  • Select Other Common Business Expenses and Start or Update
  • Scroll down to Interest Payments and Start or Update
  • You may enter your business loan interest paid as Credit Card, Loan, and Other Interest
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies