Vince asked:
Where do I put down the expenses for auto loans and personal credit card expenses on Schedule A of Form 1040?
Julia
Where do I put down the expenses for auto loans and personal credit card expenses on Schedule A of Form 1040?
Julia
February 20, 2010
December 2, 2009
Is auto loans tax deductible, if it is made home lien?
alexander_jayaraj asked:
Hi All,
Hi All,
Apologies for asking the answer for resolved questions. From the answers it is clear that personal auto loan is not tax deductible. I live in California and I own a home. My credit union says, If I pay $200, then they can make my auto loan as home lien, which will make my auto loan tax deductible.
Is it legitimate to do so, or is my credit union doing something fishy? I am kind of concerned after seeing the earlier answers.
Mary