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New! Car Loan Interest Deduction (OBBB)
The One Big Beautiful Bill (OBBB) created a temporary tax break for car buyers. Key points for 2025–2028: • Deduct up to $10,000/year of interest paid on a new auto loan (personal use only). • Standard deduction–friendly: You can claim this even if you don’t itemize . • Loan must originate after Dec 31, 2024 and the vehicle must be assembled in the U.S. (light vehicles under 14,000 lbs—cars, SUVs, pickups, vans, motorcycles). • VIN required on your tax return; lender

Alexsandra Litmanovich
1 min read
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