2007-01-24 02:15:19 · 6 answers · asked by fiftyimgood 1 in Business & Finance ➔ Taxes ➔ United States
You cant.
2007-01-24 02:19:50 · answer #1 · answered by Anonymous · 0⤊ 0⤋
No. Not since the 1980's has that been a tax deduction in the USA.
If you borrowed the money via a home loan, yes it is possible. But not on a auto loan.
2007-01-24 10:26:57 · answer #2 · answered by Mexico Traveler 3 · 0⤊ 0⤋
sched. C filers can claim it as a business expense. Regular 1040 taxpayers, no. That was a tax code change in the 80s (you use to be able to deduct credit card interest too.
2007-01-24 11:12:04 · answer #3 · answered by Dizney 5 · 0⤊ 0⤋
No- all consumer interest was eliminated many years ago. This means credit cards and non home type loans.
2007-01-24 10:23:35 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Several years ago you could. But that is no longer the case. Only interest associated with purchasing a home and the annual interest with that is claimable now.
2007-01-24 10:23:17 · answer #5 · answered by Kerry 7 · 1⤊ 0⤋
There was a time that you could - but not anymore. The only interest you can claim is home mortgage interest.
2007-01-24 10:19:59 · answer #6 · answered by lifesajoy 5 · 1⤊ 0⤋