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Can I claim a business deduction for my auto loan interest?

March 3, 2003

From:  Rita
Date:  Wed, 22 Jan 2003

Can I deduct my car note for business deductions?

Rita

Answer

Date:  5 Feb 2003

Hello Rita,

If you aren't using the standard mileage allowance and are claiming the depreciation and expenses for your car, you can claim a deduction for the business use portion of the interest.

Good luck!
Mike Gray

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