You'll need to sign in or create an account to connect with an expert.
no. if this is business property the business should deduct the interest as an expense. if you haven't been deducting the interest each year. run to a tax pro.
Also if you have not been depreciating the asset correctly you need to RUN to a local tax pro to get this corrected as well.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
vaishali101
New Member
uchatwani
Level 1
Steve H2
New Member
RachelM
Returning Member
AndyTTT
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.