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Is the interest on my financed vehicle, which I used for work,( not just commuting), deductible?

Forum|Forum|7 years ago
June 6, 2019
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TurboTax Deluxe Online

Best answer by WillK

Yes. You can deduct the percentage of the interest you paid based on the percentage that the car was used for work. For example, if your car interest totally $2,000 for the year, and the car was used 60% of the time for work you could deduct $1,200 of the interest as a work expense.

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WillKAnswer

Employee

Yes. You can deduct the percentage of the interest you paid based on the percentage that the car was used for work. For example, if your car interest totally $2,000 for the year, and the car was used 60% of the time for work you could deduct $1,200 of the interest as a work expense.

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