If you're one of the millions of Americans who purchased a new car last year, you could benefit from a new tax break that allows taxpayers to deduct interest paid on their auto loans. The car loan tax ...

Learn how you can deduct up to $10,000 of car loan interest payments. This guide covers eligibility established by the “One Big Beautiful Bill.” ...

The sweeping GOP tax bill calls for an above-the-line deduction of up to $10,000 in car loan interest during a given taxable year. You'd pay no tax on that interest, if you qualified. The proposed tax ...

President Donald Trump proposed a tax break on car loan interest while on the campaign trail last year. House and Senate Republicans have pitched a $10,000 tax deduction on auto loan interest as part ...

Taxpayers who buy a new car assembled in the U.S. may be able to deduct up to $10,000 from their taxable income beginning in 2025. To help sort out the details, the IRS is rolling out additional ...

Beginning on 2025 tax returns, new car buyers might qualify for an above-the-line deduction of up to $10,000 in car loan interest in a year. Taxpayers will not be able to deduct interest on loans ...

Forbes contributors publish independent expert analyses and insights. Andrew Leahey is an attorney and law professor that covers tax. Starting in tax year 2025, taxpayers will be able to deduct up to ...

Jeanine Skowronski is an editor, writer, and journalist with more than 15 years of experience in personal finance and business, including roles at Bankrate, CreditCards.com, and Policygenius. Her work ...

Find out if your new car or truck was built in the United States. See the window sticker or use a VIN Decoder tool at the National Highway Traffic Safety Administration website. Beginning on 2025 tax ...

The federal car loan interest deduction is available for the 2025 through 2028 tax years. You may be able to deduct up to $10,000 of car loan interest per year, but the deduction is gradually phased ...