Car loan interest deduction: what do IRS final regs say?
Can you deduct car loan interest in 2025? Yes, up to $10,000 per return per year, for tax years 2025 through 2028. The car loan interest deduction under OBBBA §70203 covers loans incurred after December 31, 2024 that are secured by a first lien on a U.S.-assembled passenger vehicle you bought for personal use. Final…