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In general, consumer loan interest (personal loan) is not tax deductible.
Only if the loan is secured by your home (such as home equity or other mortgage) the interest would be deductible as a home mortgage interest.
Some lenders, when offering a mortgage loan, include a range of home improvements in the loan, such as solar panel systems. Since the mortage is secured debt (by your home) the interest would be tax deductibe.
In general, consumer loan interest (personal loan) is not tax deductible.
Only if the loan is secured by your home (such as home equity or other mortgage) the interest would be deductible as a home mortgage interest.
Some lenders, when offering a mortgage loan, include a range of home improvements in the loan, such as solar panel systems. Since the mortage is secured debt (by your home) the interest would be tax deductibe.
My solar loan is secured. Where do I put the interest on my tax return. I itemize deductions.
If the solar was secured by a mortgage on your home then they will issued a 1098 showing the interest you paid on the mortgage for the year. Personal loans secured by anything other than the home itself is not deductible.
The interest on a form 1098 is entered under the HOME section of the Deductions & Credits tab.
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