can i deduct auto loan interest?
94643
Generally, no. If you use the vehicle for business (commuting doesn't count) you can take a portion of the depreciation as a deduction.
358568
many states have different policies. i live in north carolina and had my loan sold 3 times but interest stayed the same.check with the state commerce office
143819
If you itemize your deductions, then your state taxes are deductible from your federal taxes.  Other common large deductions include real estate or property tax, interest on home mortgages, and (if you don't make too much money) the interest on student loans.
366742
Just make the payments and it stays yours. Fail to do so and they will take your car, determine that it's not enough to cover the loan due to depreciation and then you will still owe them money! So pay it off! And if you do have a problem go to the bank and they might work with you by just letting you pay the interest for a month or two as it is cheaper for them to do so than reposses your car.
124159
You can't.You may deduct the interest portion of the mortgage payment if you rent the house out.
673860
To an extent yes as the loan is tax deductible.  The problem arises if the loan is for 15 years and the car only lasts 5.  That means you are paying an additional 10 years for something that you no longer have.
437357
call your loan company and ask them to send you a new copy of the interest.
1105322
Car payments, no, assuming you own the car.\nHowever, you can deduct a proportionate amount of the interest on the note (or lease payment if car is leased), maintenance, repairs, gas, insurance, taxes etc.  The ratio will be your business miles divided by total mileage for the year.  If you have not (or do not) save your receipts, you can elect to use the standard mileage rate (changes each year) and apply that to your business mileage.  However, if you choose to use the actual expense method, you have to use that method as long as you have the car or are in that business.  You will have other issues as well if your business usage is over 50%.  I personally suggest people use the mileage rate since the record-keeping is easier and, unless you are driving a luxury auto, the deduction is typically higher.
726088
You can deduct state, local, and foreign real estate taxes on ALL real estate you own.\n\nYou can deduct mortgage interest on ANY two homes you own.  You can only deduct mortgage interest on the first $1 million (total) of loans used to buy, build, or improve your home and only on the first $100,000 of other mortgage loans (home-equity).  If you think you may be over these amounts, or if you want to investigate further, I suggest reading the attached publication from the IRS.
320816
If you are talking about a repo--- It is there duty to retrieve the auto if you are behind in your payments. They are hire by your lender.
208027
It depends on your personal finances.  If you own a home and have a mortgage on it, you can deduct the interest.  You have to itemize (schedule A) to get most deductions on a personal return, but once there, you can also deduct charitables and medical expenses if they are very very high relative to your income.  The best strategy for most individuals is to try and minimize your income in the first place by contributing to an IRA (traditional) or to participate in the 401(k) plan where you work.  Not knowing anything about your personal situation, I can't offer much more advice than that.
164153
If you were penalized for taking a CD out early, yes.  You can deduct that penalty on your 1040.
966497
The interest is tax-deductible for most taxpayers. The tuition was deductible in the tax year the tuition was paid (or billed to student loans).
319385
Yes it is legal.  What typically happens is that you are still on the books for the full purchase of the loan.  If they repo the car, they auction it off and then try to collect on the difference.  The only recourse that you might have is if the auction price was considerably less than the fair market value.  You might be able to do something there.  Other wise, sorry to say..You are stuck.
44339
No you won't get penalized.  It is like giving an interest free loan to the IRS but a good way o trick yourself into saving money.  $100 might make too big of a difference in you paycheck try $50.
256090
No.  The company that holds your mortgage should have supplied you with a statement of how much mortgage interest you paid over the previous year.  You can only claim that amount.
623592
You are paying approximately 12.5% interest.  I do not understand what type of loan this is (mortgage, auto, personal, etc.) but this is a pretty high interest rate.  I would discuss refinancing it with someone.