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Updated almost 7 years ago,
Auto loan interest, is it deductible?
If I'm using the standard mileage rate for 2017, can I also claim my business use percentage for my auto loan interest? My accountant says no, but I've read in books that you can still claim auto loan interest in addition to the standard mileage rate. I was looking up in IRS Pub. 463 and it says you can claim it, but to include it on your Schedule C. Would I just claim this on the Schedule E under Auto & Travel expenses?
I'm trying to find somewhere to refer my accountant to, preferably on IRS.gov, to show that it can be claimed.