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rooke17
New Member

how do i enter my new vehicle loan interest as a deduction in turbotax, i only see mortgage interest?

I can't find where in turbo-tax to add this new deduction for new car loan interest. Plese show me where and how
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MindyB
Employee Tax Expert

how do i enter my new vehicle loan interest as a deduction in turbotax, i only see mortgage interest?

To enter this in TurboTax Online, navigate to Federal > Deductions & Credits > Add more deductions > Cars and Other Things You Own > Car Loan Interest 

 

There are a few qualifications that are required in order to be eligible for this deduction.

 

According to What is the vehicle loan interest deduction?, here are the rules:

  • "It was purchased, not leased, in 2025.
  • It’s a brand new vehicle. In other words, you didn’t buy it used.
  • Its final assembly was in the U.S.
    • You can check this by entering your VIN and model year into the VIN decoder provided by the National Highway Traffic Safety Administration. You’ll also include the VIN on your tax return.
  • It's a car, van, SUV, motorcycle, or pickup truck that weighs less than 14,000 pounds.
  • You bought it for personal use.
  • You didn’t pay the interest to a family member or a business you own. The loan must be secured by the vehicle."

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2 Replies

how do i enter my new vehicle loan interest as a deduction in turbotax, i only see mortgage interest?

CAR LOAN INTEREST

Go to Federal>Deductions and Credits>Cars and Other Things You Own>Car Loan Interest

The amount will go on Schedule 1a and end up on Form 1040 on line 13b

 

**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.**
MindyB
Employee Tax Expert

how do i enter my new vehicle loan interest as a deduction in turbotax, i only see mortgage interest?

To enter this in TurboTax Online, navigate to Federal > Deductions & Credits > Add more deductions > Cars and Other Things You Own > Car Loan Interest 

 

There are a few qualifications that are required in order to be eligible for this deduction.

 

According to What is the vehicle loan interest deduction?, here are the rules:

  • "It was purchased, not leased, in 2025.
  • It’s a brand new vehicle. In other words, you didn’t buy it used.
  • Its final assembly was in the U.S.
    • You can check this by entering your VIN and model year into the VIN decoder provided by the National Highway Traffic Safety Administration. You’ll also include the VIN on your tax return.
  • It's a car, van, SUV, motorcycle, or pickup truck that weighs less than 14,000 pounds.
  • You bought it for personal use.
  • You didn’t pay the interest to a family member or a business you own. The loan must be secured by the vehicle."

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