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January 24, 2025
Question

Where do I enter my Lease Car interest expense and my Equity Bank Loan interest expense

  • January 24, 2025
  • 2 replies
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    2 replies

    Employee
    January 26, 2025

    Are you asking about a car for your personal use or a car used for your business in which you are self-employed?

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
    AmyC
    Employee
    January 28, 2025

    Mortgage loan / home equity interest is entered in deductions and credits under mortgage interest. Car interest that is personal is not deductible.  Car lease payments used for business can be deducted as a business expense. Include the business percentage used as the deduction.

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