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New Member
posted Jan 24, 2025 11:19:35 AM

Where do I enter my Lease Car interest expense and my Equity Bank Loan interest expense

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2 Replies
Level 15
Jan 26, 2025 10:14:59 AM

Are you asking about a car for your personal use or a car used for your business in which you are self-employed?

Employee Tax Expert
Jan 28, 2025 10:25:39 AM

Mortgage loan / home equity interest is entered in deductions and credits under mortgage interest. Car interest that is personal is not deductible.  Car lease payments used for business can be deducted as a business expense. Include the business percentage used as the deduction.