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Can I deduct my Auto Loan Interest?

Due to a recent law change, individuals can deduct up to 10K of interest on new vehicle loans if the vehicle was assembled in the US and the vehicle is the security for the loan.  For 2025, individuals claiming the deduction will have to keep track of this interest figure themselves as no 1098s will be sent to taxpayers letting them know the amount of the interest paid in 2025.


 
 
Schaaf CPA Accounting Logo 2

Mon - Fri.  9 a.m. - 5 p.m. 

Saturday | Closed

Sunday | Closed

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Schaaf CPA Group is located in downtown Westfield, Indiana

110 N Union St

Westfield, IN 46074

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