auto loan interest tax deduction

Taxes October 21, 2025 

The IRS issued transitional guidance on Oct. 21 that provides penalty relief to certain lenders on the new information reporting requirements for car loan interest received in 2025 under the new Trump tax law.

Jason Bramwell

Special Section: Guide to 2025 Tax Changes September 24, 2025 

The One Big Beautiful Bill Act (OBBBA) authorizes a new tax deduction for auto loan interest, beginning in 2025 and ending after 2028.

JD, Ken Berry, JD