Under the OBBBA, interest on certain new personal-use auto loans may be deductible up to $10,000 per year.
reported by 4 outlets · Reported fact · first recorded Jul 8, 1:30 AM
How each outlet reported it
finance.yahoo.comUnrated · Jul 8, 12:45 AM
Up to $10,000 of car loan interest is now tax-deductible for qualifying new vehicles
Details: $10,000 deduction
finance.yahoo.comUnrated · Jul 8, 12:45 AM
Car loan interest deduction is unavailable for taxpayers with income above $150,000 (single) or $250,000 (joint)
Details: $150,000 single; $250,000 joint
cpapracticeadvisor.comUnrated · Jul 8, 12:45 AM
OBBBA introduces a maximum auto loan interest deduction of $10,000 on qualifying personal-use vehicles (2025-2028)
Details: $10,000; 2025-2028
kiplinger.comUnrated · Jul 8, 12:45 AM
Interest on certain new personal-use auto loans may be deductible up to $10,000 per year
Details: $10,000; new vehicles only
pasadenastarnews.comUnrated · Jul 8, 12:45 AM
The auto loan interest deduction allows write-off of up to $10,000 of interest on loans for new US-assembled personal-use vehicles.
Details: $10,000; final assembly in the US; leases excluded
pasadenastarnews.comUnrated · Jul 8, 12:45 AM
The auto loan interest deduction phases out starting at $200,000 MAGI for married couples and $100,000 for singles.
Details: $200,000; $100,000; $250,000; $150,000