Skip to main content
April 16, 2023
Question

Can I deduct interest paid on the tractor I financed for my business?

  • April 16, 2023
  • 1 reply
  • 0 views
I financed a tractor for my business. Can I deduct the interest? Where do I enter that if I can?

1 reply

VolvoGirl
Employee
April 16, 2023

Yes,  it goes on Schedule C line 16b for Other Interest.  Where to enter expenses in the Online Self Employed version

https://ttlc.intuit.com/questions/3636848-where-do-i-enter-my-self-employment-business-expenses-like-home-office-vehicle-mileage-and-supplies

 

Interest Payments is the 7th item under Expenses - Click the Start or Update button