Personal loan interest
Varies
Can You Write Off Personal Loan Interest?
Short answer: No, interest on personal loans and credit cards for personal spending isn't deductible.
If the loan funded a business or investment, that interest may be deductible.
Records to keep: Keep receipts, statements (1098, 1098-T, 1099, W-2G), and a note of what each cost was for. Compare itemizing to the 2026 standard deduction before you claim.
BW-B22-00117
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Personal loan interest
Varies
Individuals / Personal Taxes
Other Expenses
Personal Tax Deductions
No, interest on personal loans and credit cards for personal spending isn't deductible.
BizWriteOffs provides educational information only and is not tax, legal, or accounting advice. Deductibility depends on your specific facts and records. Consult a qualified tax professional.
Business justification
No, interest on personal loans and credit cards for personal spending isn't deductible. If the loan funded a business or investment, that interest may be deductible.
Category
- Personal Tax Deductions
personal deduction
search demand 2026
home mortgage
mortgage interest