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Where do we report the “No Tax on Car Loan Interest” from the One BBB?

 
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2 Replies
JohnB5677
Expert Alumni

Where do we report the “No Tax on Car Loan Interest” from the One BBB?

In TurboTax Online, you can enter your car loan deduction by following these steps:

 

  1. Log into TurboTax
  2. Click on Federal in the ‌column, 
  3. then on Deductions & Credits
  4. Go to the center panel Deductions and Credits
  5. Select Other Deductible expenses
  6. Scroll to Cars and Other Things You Own and click the arrow on the right
  7. Click Start next to Car Loan Interest 
  8. Follow the Interview
  9. The deduction will transfer to Schedule 1-A of your Form 1040.

See the TurboTax article What is the vehicle loan interest deduction?


 

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Where do we report the “No Tax on Car Loan Interest” from the One BBB?

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