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    Auto interest expense

    When using standard mileage allowance:

    1. An employee cannot deduct auto note interest in addition to it. Right?

    2. If self-employed, then you can deduct it in addition to the standard rate. Right?

    #2
    Correct

    Off the top of my head I say Employee's canNOT take interest even if they are using actual method.
    http://www.viagrabelgiquefr.com/

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      #3
      Employee vs Self Employed

      Thats Correct Bart,

      Employee "can not" deduct interest on vehicle loan for either standard mileage rate or actual expenses.

      Self Employed can use the standard mileage and in addition claim vehicle loan interest, as well as parking and tolls, and personal property tax on vehicle.

      See QF 11-3.

      Sandy

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