Loan Reviews

Is the interest you pay on personal loans tax deductible?

We had two personal loans this year totaling around $8,000 with interst of about 800. Is this tax deductible?

Public Comments

1. Not since 1986
2. No, credit cards, car loans, etc. have no tax advantages whatsoever. When you pay off a school loan, there are some tax write-offs. so, it depends on the kind of personal loan...
3. no