New tax law... some car loan interest!

The 2025 new tax law includes some interesting new deductions - one, is new car loan interest. IRS just today provided some guidance... please see IR-2025-129 link below.

These are IRS "proposed" regulations & still unpublished until 1-2-26... 2025-24154.pdf

Note: there ARE a bunch of restrictions - who can take the deduction, income limits, amounts, loans only on new cars manufactured in the USA & purchased after 12-31-24, etc, etc. See the 2 inks below, to new guidance and the BBB (new tax law).

Treasury, IRS provide guidance on the new deduction for car loan interest under the One, Big, Beautiful Bill | Internal Revenue Service

One, Big, Beautiful Bill provisions | Internal Revenue Service

Have a wonderful and safe New Year!   Garland

Garland Taylor CPA, Pres.   Garland Taylor CPA PC   cpa@garlandtaylor.com