Can I deduct loan and credit card interest, and if so, where does it get placed on the tax form?

colleen_kjems · ‎January 30, 2024

Can I deduct interest payments on a loan?

xmasbaby0 · ‎January 30, 2024

No. You can deduct interest paid on a mortgage. You cannot deduct interest for car loans or credit cards.

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https://ttlc.intuit.com/questions/4124827-how-do-i-connect-with-a-tax-expert-in-turbotax-live

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xmasbaby0 · ‎January 30, 2024

No. You can deduct interest paid on a mortgage. You cannot deduct interest for car loans or credit cards.

You posted your question from a version of online Live software. If you are really using that “Live” software you can get help from your “expert.”

You are posting from TurboTax Live. You can arrange for the Live help you are paying the extra fee for with your questions from 5 a.m. to 9 p.m. Pacific time.

https://ttlc.intuit.com/questions/4124827-how-do-i-connect-with-a-tax-expert-in-turbotax-live

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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Can I deduct loan and credit card interest, and if so, where does it get placed on the tax form?