Does your car qualify for up to a $10,000 tax deduction? It might

There are rules to a new tax deduction as to which vehicles qualify to save buyers on the interest paid on loans. Here are ...
FOX 13 Tampa Bay

The $10,000 car loan tax deduction: Here's who qualifies and how to claim it

The IRS has released guidance on a new deduction that allows eligible taxpayers to write off up to $10,000 in auto loan ...

This tax season, there's a new deduction for interest on car loans

Taxpayers who purchased a new vehicle in 2025 may qualify for a new deduction on their taxes — even if they're not itemizing.
Young and the Invested on MSN

Did you buy a new car last year? If so, you might get a tax deduction

If you took out a car loan last year, you might be able to write off up to $10,000 of interest on the loan when you file your tax return this year.

If You Bought a Car Last Year, This Tax Break May Apply to You

Interest on auto loans is now deductible for some, but strict rules on income, vehicle type, and timing narrow who benefits.

New IRS form Schedule 1‑A unlocks 4 major tax deductions for 2025

Millions of taxpayers are using a new IRS form to claim deductions for tips, overtime, car loan interest, and seniors. What ...

Bought A New Car Last Year? You Could Qualify For This Tax Break

Bought and financed a new car in 2025? You may deduct up to $10,000 in interest under a new federal tax break. Learn who ...
USA Today

Michigan Rep. Huizenga proposes auto loan tax deduction for US-made cars to offset tariffs

Rep. Bill Huizenga introduced the Made in America Motors Act, proposing a tax deduction on interest paid on U.S.-assembled vehicle loans. The proposed deduction allows up to $2,500 per year for ...

New Tax Deductions And Credits You Should Not Miss This Year

Learn about new 2025 tax deductions and credits from the OBBBA, including overtime, senior and car loan breaks, so you can avoid missing valuable tax savings.