Video Tips: Which Kind of Interest Is Tax Deductible?

When it comes to deducting loan interest on your taxes, there are a few things you need to keep in mind. First, only interest on certain types of loans is deductible. Second, you can only deduct the interest if you itemize your deductions. And finally, there is a limit on how much interest you can deduct. By being prepared and knowing what to expect, you can make sure that you get the most out of your tax deductions.

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