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Are interest payment on a car loan tax deductible?

 
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2 Replies
Coleen3
Intuit Alumni

Are interest payment on a car loan tax deductible?

No, it is a personal expense.

KellyH
New Member

Are interest payment on a car loan tax deductible?

Generally, loans are considered personal expenses. So, the interest on car loans, credit cards, etc., is not deductible.

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