The National Directory of Certified Public Accountants

Ask A CPA - Interest - Itemized Deduction

Car Loan Interest

No. Interest on personal loans such as car and credit card loans are not deductible. Home mortgage loans and interest for loans for business purposes are deductible.

If you need professional help with "Interest - Itemized Deduction" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.