Is that VALID?
Not VALID
“You can deduct the interest on any car loan now.”
What the law says
- The loan was taken out after December 31, 2024, to buy the vehicle, and is secured by a first lien on it. The vehicle is for personal use.
- The vehicle is new to you (its original use starts with you), is a car, minivan, van, SUV, pickup or motorcycle under 14,000 pounds gross vehicle weight, and had its final assembly in the United States.
Source: IRC §163. Read the full rule, with the law quoted
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Not advice. Not a filing. Verify with a licensed professional. Rules change by year and facts.