Is the interest you pay on personal loans tax deductible?
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ecemajor asked:
We had two personal loans this year totaling around $8,000 with interst of about 800. Is this tax deductible?
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We had two personal loans this year totaling around $8,000 with interst of about 800. Is this tax deductible?
Create a video blog…instantly.
January 26 2009 09:28 am | United States
Mark S on 28 Jan 2009 at 10:24 am #
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Not since 1986
es on 30 Jan 2009 at 5:16 pm #
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No, credit cards, car loans, etc. have no tax advantages whatsoever. When you pay off a school loan, there are some tax write-offs. so, it depends on the kind of personal loan…
Steve R on 02 Feb 2009 at 10:54 am #
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no