Investor Glossary-interest deductionInvestor Glossary-interest deductionInvestor Glossary-interest deductionInvestor Glossary-interest deductionInsightful stock market charts - Click here
investor
Categories    # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Interest Deduction

The HTML to link to this page
 

An interest deduction is any deduction of interest payments that one can take on one's IRS 1040 form as a way to lower one's taxable income for the year. Not any interest payment qualifies as an interest deduction. Some examples of the qualifying interest deduction are interest paid on home mortgages, student loans, and various business expenses. Strict rules apply to anyone interested in taking an interest deduction. For example, student loan payments require that the person have taken the loan to pay for his or her own expenses, or the expenses of a spouse or dependent. An interest deduction for a home mortgage is recorded on Schedule A as a part of one's itemized deductions. A business interest deduction is taken on Schedule C, and an interest deduction for a student loan is recorded directly on Form 1040.



Rate this interest deduction definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: 1035 exchange, phantom income, command economy, diluted share, LIBOR, per diem, ex-dividend date, debt service coverage, cancelled check, Zero Cost Collar, dividends payable, implied volatility, 1031 exchange, labor relations, 144a, covered put, irrevocable trust, class C shares, quality assurance, liquidity ratio, annual return, deferred tax, margin rate, reverse mortgage, deferred revenue, inflation, stock market close, limit order, retained earnings, VIX, current ratio, FTSE, Key Rate Duration, balance sheet, APR, required rate of return, stock split, FICO score, 401a, minority interest, open position, real GDP, option premium, wholly-owned subsidiary, risk management, ex-dividend, in escrow, average price per share, EBITDA


Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
Home | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
©2004-2016 Investor Glossary - All rights reserved - Terms of Use