Credit card & loan interest. While I don't have a business credit card I use one of my cards (personal) for business transactions. Can I still deduct interest?
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jason95491
New Member

Credit card & loan interest. While I don't have a business credit card I use one of my cards (personal) for business transactions. Can I still deduct interest?

 
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AmyT
New Member

Credit card & loan interest. While I don't have a business credit card I use one of my cards (personal) for business transactions. Can I still deduct interest?

You are able to deduct the interest paid on your personal credit card for business purchases.

If you use the card exclusively for the business, you are able to deduct the full amount of interest paid.  Otherwise, you will need to make a reasonable allocation based on the amount of business purchases and the amount of personal purchases.

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