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Is interest on a tractor loan tax deductible?

Daniel King

in Student Loans

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1 answer

Roger Moore on February 23, 2018

If it is used to produce income from farming/ranching (F) or your business income (schedule C), we can deduce that in the related schedule, otherwise it is personal interest and is not deductible. Care, that the source of the income cannot be classified as a hobby.

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