Personal loan interest ... where do I enter this?
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New Member

Personal loan interest ... where do I enter this?

 
2 Replies
Level 4

Personal loan interest ... where do I enter this?

personal loan interest is not deductible for federal income tax purposes.  maybe state but that would be through the state interview. 

Level 2

Personal loan interest ... where do I enter this?

However, you may be able to take a tax deduction if you use the loan for certain, specific purposes and meet all the eligibility requirements. "Business expenses", "Qualified higher education expenses", "Taxable investments"

 

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