Not since 1986
Is the interest you pay on personal loans tax deductible?
We had two personal loans this year totaling around $8,000 with interst of about 800. Is this tax deductible?
By: ecemajor
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Mark S
March 18, 2009
es
March 20, 2009
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…