Subaru Outback car loan interest deduction
Up to $10,000/yr
Does the Outback Qualify for Car Loan Interest Deduction?
Short answer: Likely yes: the Outback is assembled in the US (Indiana), so interest on a loan for a new one bought for personal use can be deductible up to $10,000 a year for 2025-2028.
The loan must be for a new vehicle for personal use, taken out after 2024, and secured by the car. The deduction phases out above $100,000 of income ($200,000 joint); leases don't qualify.
Records to keep: Keep the purchase contract, loan statements (Form 1098-VLI from your lender), and the VIN.
Subaru Outback car loan interest deduction
Typical range: Up to $10,000/yr
Individuals / Personal Taxes
Likely yes: the Outback is assembled in the US (Indiana), so interest on a loan for a new one bought for personal use can be deductible up to $10,000 a year for 2025-2028.
Business justification
Likely yes: the Outback is assembled in the US (Indiana), so interest on a loan for a new one bought for personal use can be deductible up to $10,000 a year for 2025-2028. The loan must be for a new vehicle for personal use, taken out after 2024, and secured by the car. The deduction phases out above $100,000 of income ($200,000 joint); leases don't qualify.
Category
- Vehicles by Make & Model