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New Member
posted Feb 15, 2021 12:33:55 AM

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

0 2 379
2 Replies
Level 15
Feb 15, 2021 12:37:35 AM

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

Level 2
Feb 15, 2021 1:14:08 AM

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"