How do I add interest on car loan

Forum|Forum|1 year ago
February 3, 2025
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xmasbaby0

Employee

Are you self-employed? If not, you do not add anything about a car loan.

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ThomasM125

Interest expense on a car loan would only be deductible if you use the vehicle for your business, and then only by an amount equal to the percentage of time you use the vehicle for business as opposed to personal use. You would enter it as interest expense in the business expenses section where you enter your business income and expenses. It is not generally deductible if you are a salary (W-2) employee.

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