Car Loan Interest Deduction Calculator

Car Loan Interest Deduction Calculator

Estimate the temporary deduction for interest paid on a qualified personal vehicle loan — up to $10,000 per year for 2025–2028 (Section 70203).

Eligibility Checklist

Loan originated after Dec. 31, 2024; purchase (not lease); lien on the vehicle; personal use; GVWR under 14,000 lbs; final assembly in the United States; VIN reported on the return.

Phase-Outs

MAGI over $100,000 (single/HoH) or $200,000 (joint) begins reducing the deduction.

Vehicle Shortcuts

• New car loan interest tax calculator
• SUV loan interest tax calculator
• Pickup truck loan interest tax calculator
• Motorcycle loan interest tax calculator
• Minivan loan interest tax calculator

Related

• Car loan interest deduction guide
• US-assembled vehicle loan tax guide
• WFTC savings estimator
• Working Families Tax Cuts hub

Keep Form W-2 / 1099 statements and year-end interest statements with your tax records for at least three years.

These Working Families Tax Cuts deductions are temporary for tax years 2025 through 2028 unless Congress extends them.

Federal income-tax savings do not automatically change Social Security or Medicare withholding on your paycheck.

State tax treatment may differ — confirm whether your state conforms to the new federal deductions.

When MAGI is near a phase-out threshold, run a withholding checkup mid-year so your refund or balance-due is not a surprise.

Use Schedule 1-A style additional deduction reporting as directed by current IRS forms for the filing season.

If you qualify for more than one deduction, claim each only against its own qualified income or interest — do not double-count.

This content is educational and informational only. It is not tax, legal, or financial advice for your specific return.

Keep Form W-2 / 1099 statements and year-end interest statements with your tax records for at least three years.

These Working Families Tax Cuts deductions are temporary for tax years 2025 through 2028 unless Congress extends them.

Federal income-tax savings do not automatically change Social Security or Medicare withholding on your paycheck.

State tax treatment may differ — confirm whether your state conforms to the new federal deductions.

When MAGI is near a phase-out threshold, run a withholding checkup mid-year so your refund or balance-due is not a surprise.

Use Schedule 1-A style additional deduction reporting as directed by current IRS forms for the filing season.

If you qualify for more than one deduction, claim each only against its own qualified income or interest — do not double-count.

This content is educational and informational only. It is not tax, legal, or financial advice for your specific return.

Keep Form W-2 / 1099 statements and year-end interest statements with your tax records for at least three years.

These Working Families Tax Cuts deductions are temporary for tax years 2025 through 2028 unless Congress extends them.

Federal income-tax savings do not automatically change Social Security or Medicare withholding on your paycheck.

State tax treatment may differ — confirm whether your state conforms to the new federal deductions.

When MAGI is near a phase-out threshold, run a withholding checkup mid-year so your refund or balance-due is not a surprise.

Use Schedule 1-A style additional deduction reporting as directed by current IRS forms for the filing season.

If you qualify for more than one deduction, claim each only against its own qualified income or interest — do not double-count.

This content is educational and informational only. It is not tax, legal, or financial advice for your specific return.

Keep Form W-2 / 1099 statements and year-end interest statements with your tax records for at least three years.

These Working Families Tax Cuts deductions are temporary for tax years 2025 through 2028 unless Congress extends them.

Federal income-tax savings do not automatically change Social Security or Medicare withholding on your paycheck.

State tax treatment may differ — confirm whether your state conforms to the new federal deductions.

When MAGI is near a phase-out threshold, run a withholding checkup mid-year so your refund or balance-due is not a surprise.

Use Schedule 1-A style additional deduction reporting as directed by current IRS forms for the filing season.

If you qualify for more than one deduction, claim each only against its own qualified income or interest — do not double-count.

This content is educational and informational only. It is not tax, legal, or financial advice for your specific return.

Keep Form W-2 / 1099 statements and year-end interest statements with your tax records for at least three years.

These Working Families Tax Cuts deductions are temporary for tax years 2025 through 2028 unless Congress extends them.

Federal income-tax savings do not automatically change Social Security or Medicare withholding on your paycheck.

State tax treatment may differ — confirm whether your state conforms to the new federal deductions.

When MAGI is near a phase-out threshold, run a withholding checkup mid-year so your refund or balance-due is not a surprise.

Use Schedule 1-A style additional deduction reporting as directed by current IRS forms for the filing season.

If you qualify for more than one deduction, claim each only against its own qualified income or interest — do not double-count.

This content is educational and informational only. It is not tax, legal, or financial advice for your specific return.

Keep Form W-2 / 1099 statements and year-end interest statements with your tax records for at least three years.

These Working Families Tax Cuts deductions are temporary for tax years 2025 through 2028 unless Congress extends them.

Federal income-tax savings do not automatically change Social Security or Medicare withholding on your paycheck.

State tax treatment may differ — confirm whether your state conforms to the new federal deductions.

When MAGI is near a phase-out threshold, run a withholding checkup mid-year so your refund or balance-due is not a surprise.

Use Schedule 1-A style additional deduction reporting as directed by current IRS forms for the filing season.

If you qualify for more than one deduction, claim each only against its own qualified income or interest — do not double-count.

This content is educational and informational only. It is not tax, legal, or financial advice for your specific return.

Keep Form W-2 / 1099 statements and year-end interest statements with your tax records for at least three years.

These Working Families Tax Cuts deductions are temporary for tax years 2025 through 2028 unless Congress extends them.

Federal income-tax savings do not automatically change Social Security or Medicare withholding on your paycheck.

State tax treatment may differ — confirm whether your state conforms to the new federal deductions.

When MAGI is near a phase-out threshold, run a withholding checkup mid-year so your refund or balance-due is not a surprise.

Use Schedule 1-A style additional deduction reporting as directed by current IRS forms for the filing season.

If you qualify for more than one deduction, claim each only against its own qualified income or interest — do not double-count.

This content is educational and informational only. It is not tax, legal, or financial advice for your specific return.

Keep Form W-2 / 1099 statements and year-end interest statements with your tax records for at least three years.

These Working Families Tax Cuts deductions are temporary for tax years 2025 through 2028 unless Congress extends them.

Federal income-tax savings do not automatically change Social Security or Medicare withholding on your paycheck.

State tax treatment may differ — confirm whether your state conforms to the new federal deductions.

When MAGI is near a phase-out threshold, run a withholding checkup mid-year so your refund or balance-due is not a surprise.

Use Schedule 1-A style additional deduction reporting as directed by current IRS forms for the filing season.

If you qualify for more than one deduction, claim each only against its own qualified income or interest — do not double-count.

This content is educational and informational only. It is not tax, legal, or financial advice for your specific return.

Keep Form W-2 / 1099 statements and year-end interest statements with your tax records for at least three years.

These Working Families Tax Cuts deductions are temporary for tax years 2025 through 2028 unless Congress extends them.

Federal income-tax savings do not automatically change Social Security or Medicare withholding on your paycheck.

State tax treatment may differ — confirm whether your state conforms to the new federal deductions.

When MAGI is near a phase-out threshold, run a withholding checkup mid-year so your refund or balance-due is not a surprise.

Use Schedule 1-A style additional deduction reporting as directed by current IRS forms for the filing season.

If you qualify for more than one deduction, claim each only against its own qualified income or interest — do not double-count.

This content is educational and informational only. It is not tax, legal, or financial advice for your specific return.

Keep Form W-2 / 1099 statements and year-end interest statements with your tax records for at least three years.

These Working Families Tax Cuts deductions are temporary for tax years 2025 through 2028 unless Congress extends them.

Federal income-tax savings do not automatically change Social Security or Medicare withholding on your paycheck.

State tax treatment may differ — confirm whether your state conforms to the new federal deductions.

When MAGI is near a phase-out threshold, run a withholding checkup mid-year so your refund or balance-due is not a surprise.

Use Schedule 1-A style additional deduction reporting as directed by current IRS forms for the filing season.