Video Tips: In 2026, Don't Sleep on the Vehicle Loan Interest Deduction
The One Big Beautiful Bill Act (OBBBA) introduces a new deduction for vehicle loan interest, set to take effect in 2025 and applicable through 2028. This measure allows taxpayers to deduct up to $10,000 annually for interest paid on qualified passenger vehicle loans, but it is phased out when the taxpayer’s modified AGI exceeds $100,000 ($200,000 for married joint filers).Watch this video to learn more about this deduction.
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