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


Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
Investor Glossary | 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