Can I claim interest paid on an auto loan on my taxes?

Only if the vehicle is used for business. And then only the portion attributable to the business use based upon the business miles vs the total miles it was driven.

Can I claim interest paid on an auto loan on my taxes?

No that tax loophoe was done away with in the 1980's by the Reagan Administration. the only tax loopwhole a working class person or middle class person has is the mortgage deduction on the income tax form. The intrest on the mortgage paid for that year can be deducted but all other things like interest form a car loan or interest on credit card balances were done away with by Reagan under the great %26quot;trickle down theory.

So we as middle and working class poor wound up paying more in income taxes because we had no deductiuons such as interest on auto loans and interest on credit card balances.

As Regards Gibberush:

Yes the rich do buy cars and they do use credit cards yet they are rich enough not to have to carry a balance for most purchases such as a car either using a credit card to buy the car or financing a loan for a $30,000.00.

A rich person can afford to pay for the car in full so it did not mean anything for them to pay for it immediately and not to extend payments when the interest on loans and creidt card balance ddeductions were eliminated. Before that the rich also probobly extended the payments to take advantage of another tax deduction. The only people who were screwed with the elomination of the interest on loan deduction was the poor working class/middle class slob who was only earning about less than say $60,000.00. The lower your salary the much less disposable income is left over after paying mortgage/rent and property taxes etc. food clothing etc.

Can I claim interest paid on an auto loan on my taxes?

Personal interest hasn't been deductable since 1986.

Can I claim interest paid on an auto loan on my taxes?

The %26quot;No%26quot; answer was the right answer (unless it's used in business).

The rest was just a bunch of gibberish, pretending that the rich don't buy expensive cars or use credit cards.