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Can you claim your car loan on your taxes 2024?
You can
loan car
Questioner:Naomi Smith 2023-05-08 00:07:56
The most authoritative answer in 2024
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Amelia Lewis——Studied at the University of Cape Town, Lives in Cape Town, South Africa.
You can't deduct the
loan interest on a personal
car but
you can for a business
car.
You may deduct interest on a
loan for a
car you use in
your business. Taxpayers
can even deduct the interest if
you take out a home equity
loan to buy a business
vehicle. ... He uses the standard mileage rate to deduct his
car expenses.
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