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lrmartinez78
New Member

Can I claim my interest payments on a leased vehicle for my taxes?

 
4 Replies
LeeM
New Member

Can I claim my interest payments on a leased vehicle for my taxes?

Not unless you used it for your business and claimed the actual expenses vs. the standard mileage method.

lrmartinez78
New Member

Can I claim my interest payments on a leased vehicle for my taxes?

I used it for business
lrmartinez78
New Member

Can I claim my interest payments on a leased vehicle for my taxes?

SO in order to claim I need to choose actual expenses over standard mileage correct?
LeeM
New Member

Can I claim my interest payments on a leased vehicle for my taxes?

Yes, you can enter all of the information in but usually, the mileage method is more beneficial at $.575/mile. Most cars will not cost more than that to operate.
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