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Is my car loan payment deductible on my tax return?


Is my car loan payment deductible on my tax return?

Given no additional circumstances, the answer is no.
maybe if it's used for business purposes.
NO, but the interest you pay maybe deductable depending on your income level
personal interest is not deductible any more.
Although consumer loan interest has been phased out several years ago, you may be able to take the interest as a deduction if the car was obtained through a home equity loan.

You would not be able to take it as a business expense, because the actual expenses (includes depreciation) on the vehicle for business use would be taken as a deduction.
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