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June 1, 2019
Question

Is interest paid on a car loan deductible

  • June 1, 2019
  • 1 reply
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1 reply

MargaretL
Employee
June 1, 2019

No, interest on a personal car is not tax deductible.  Only if the car is used for business, the business portion of interest can be. 

June 1, 2019
How do I figure out the business portion of the interest?