Can You Claim Interest On Credit Cards

by Darlene
(Baytown tx)

I have a question about the interest on credit cards. Can you claim the interest on your credit cards as a tax deduction? What if it is a personal credit card?

Thank you for your question about if you can claim interest on your credit cards. If the credit card is used for personal use, then you typically cannot deduct the interest from the credit card.

However; If the credit card is used exclusively for business use, then you can deduct the interest on your credit cards on your income tax return.

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