The House's first draft of tax legislation includes a provision sought by President Donald Trump to allow tax deductions for interest on car loans. The 389-page tax bill, which is a starting point for ...

The interest deduction goes to the person legally obligated ... on your financial aid award page or ask the aid office). "For example, if the room and board cost reported by the school is $15,000 ...

As an example, if you are married filing jointly ... and you paid $15,000 in mortgage interest, then your deductions are higher than the $29,200 standard deduction and you should itemize.

Deductions and credits are two ways of saving money on your taxes. Learn the important difference between these two ways of reducing your tax bill, and how you can use every tax benefit you're ...

Michigan Republican Bill Huizenga has introduced a bill in the House seeking to make auto loan interest tax deductible for ...

For example, tax attorney Megan Gorman of ... To keep track of deductible expenses, keep good records. Things like deductible student loan interest and mortgage interest are tracked by lenders.