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For business vehicle loan interest, if it is claimed under "vehicle" expense, should it also be claimed under the expense of "credit card, loan, and other interest"?

 
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1 Reply
TomD8
Level 15

For business vehicle loan interest, if it is claimed under "vehicle" expense, should it also be claimed under the expense of "credit card, loan, and other interest"?

As you proceed through the questions in the "Business Vehicle Expense" section, you will come to a page at the very end that says "Before we wrap up, did you have any other expense for your [name of vehicle]?"  The line for entering interest paid on the vehicle is on that page.  That is the ONLY place in TurboTax that it should be claimed.  

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
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