Where do I enter the deduction for car loan interest?
Menu Path: Deductions/Credits > Common Deductions/Credits > New Car Loan Interest
Starting in 2025, there's a deduction for car loan interest for newly purchased vehicles that underwent final assembly in the United States.
You can deduct up to $10,000 of the interest you paid. The deduction phases out if your income is more than $100,000 ($200,000 if married filing jointly).
Starting in 2025, there's a deduction for car loan interest for newly purchased vehicles that underwent final assembly in the United States.
You can deduct up to $10,000 of the interest you paid. The deduction phases out if your income is more than $100,000 ($200,000 if married filing jointly).
