CAR LOAN INTEREST

Complete one worksheet for each vehicle that qualifies for No Tax on Car Loan Interest.

Vehicle Name

Vehicle Identification Number (VIN)

1. Does this vehicle qualify for the interest deduction? (see note below)

Yes

Free Text

Important: If the vehicle is used as collateral for more than one loan at a time, you can only deduct the interest for the main, primary loan.

2. Did you refinance the loan on this vehicle during 2025?

Yes

Free Text

2a. If yes, enter the following:

i. Enter the interest on the original loan (if any)

ii. Enter the interest on the refinance loan

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2b. If no, enter the total interest paid for this vehicle

New Field:

3. Did you deduct interest for this vehicle on Schedule C, E, or F?

Yes

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3a. If yes, enter the total interest deducted elsewhere

New Field:

Free Text

NOTE: To qualify, the vehicle must meet ALL the following requirements: