Texas1973
New Member

Education

The info I find on the internet does say it can be deducted even with taking the standard?

 

Yes, you can use Form 1098-VLI to claim a deduction for interest paid on a qualified new-vehicle loan, even if you are taking the standard deduction, because this, (often referred to as part of the One Big Beautiful Bill Act (OBBBA)) allows for a below-the-line deduction. It is designed as a temporary incentive to deduct up to

of interest paid on qualified vehicle loans, independent of itemizing.