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You don't. Interest paid on a personal loan is not deductible.
Generally, Interest paid on personal loans is not tax-deductible. If you borrow to buy a car for personal use or to cover other personal expenses, you cannot deduct those interests. Similarly, interest paid on credit card balances is also not tax-deductible.
However, interest paid on mortgages, student loans, and business loans often can be deducted on your annual taxes to reduce your taxable income. If this is a mortgage-related loan, without a Form 1098, you can enter the information by following these steps:
In TurboTax online,
To see the change in the new law TCJA, click here: Mortgage interest
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