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Level 1
June 6, 2019
Solved

Where do we enter interest that we paid on personal loans such as a boat, motorcycles and vehicles? I know i've done it in the past and can't find it now.

  • June 6, 2019
  • 1 reply
  • 5 views
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Best answer by DoninGA

Personal loan interest payments are not deductible on a federal tax return.  Those types of interest payments were removed from the tax code by the Tax Reform Act of 1986

1 reply

DoninGA
Level 15
DoninGALevel 15Answer
Level 15
June 6, 2019

Personal loan interest payments are not deductible on a federal tax return.  Those types of interest payments were removed from the tax code by the Tax Reform Act of 1986