Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
gerri-lehew
New Member

Can you deduct interst paid on credit cars?

 
1 Best answer

Accepted Solutions
jerry2000
Alumni

Can you deduct interst paid on credit cars?

No. Personal credit card interest is not deductible.

View solution in original post

2 Replies
jerry2000
Alumni

Can you deduct interst paid on credit cars?

No. Personal credit card interest is not deductible.
DianeW
Expert Alumni

Can you deduct interst paid on credit cars?

This can be deducted only if you have a business where you are charging expenses for your business.  This is not an allowable deduction on your personal return.
Although if you charge contributions, as example, a deduction is considered paid when you make the charge, not when it is paid.  The reason is that it is considered paid on the day charged.

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~