Question

Vehicle interest paid?

Forum|Forum|6 years ago
April 5, 2020
1 reply
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I financed a used car in 2017, that I used for both business and personal use. I've logged all my business mileage, but how do I calculate the total interest paid in 2019 for this car?

Thank you

Deduction

D

DavidD66

If you are using the standard mileage rate to deduct your vehicle costs, you don't deduct the interest expense. For more information on deducting automobile expenses, see the following TurboTax Help article: Business Use of Vehicles

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