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tax deduction for new bike loan
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r0de_runr:
The Benefit: You can deduct up to $10,000 of the interest you paid on a qualifying car or motorcycle loan during the year. Itemizing Not Required: You can take this deduction even if you take the Standard Deduction. You don't have to itemize your other expenses to get this break.
The Timeframe: It applies to interest paid on loans for new vehicles purchased between January 1, 2025, and December 31, 2028.
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