Anonymous
Anonymous asked in Business & FinanceTaxesOther - Taxes · 8 years ago

is interest paid on car loan tax deductible?

8 Answers

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  • Bella
    Lv 7
    8 years ago
    Best answer

    Not in the US.

  • 3 years ago

    1

    Source(s): Bad Credit Auto Loans - http://CarLoan.trustdd.com/?QXqO
  • Only if the car is used for business use OR if you used a home equity loan to buy the car and didn't take out more than the limit for funds not used to improve the property.

  • Anonymous
    8 years ago

    In the US, only if the car is used 100% for business.

    In the US, the interest on your personal vehicle was last deductible in 1986. The same is true of credit card interest.

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  • pao
    Lv 4
    3 years ago

    provided that the vehicle is used for corporation use OR in case you used a house fairness very own loan to purchase the vehicle and did no longer take out extra suitable than the cut back for money no longer used to enhance the valuables.

  • Judy
    Lv 7
    8 years ago

    Personal car, no.

    Business car, maybe.

  • 8 years ago

    the percent of business use interest is

  • Anonymous
    8 years ago

    yes

    Source(s): ive done it
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