How do I find my Auto Loan interest for the Made in America tax deduction?
If your Auto Loan was originated after 12/31/2024 and you meet specific IRS criteria, you may qualify for the Made in America* tax incentive program.
- To find out if your vehicle qualifies for the tax deduction, here's a resource from the Department of Transportation: https://vpic.nhtsa.dot.gov/decoder
- To research additional criteria for the tax deduction, here's a resource from the IRS: https://www.irs.gov/newsroom/one-big-beautiful-bill-provisions
Although the IRS has not created tax forms for this purpose yet, we conveniently provide your Auto Loan interest in two places:
- Interest Paid Year to Date in your December statement, or eStatement, for the applicable tax year
- Previous year interest amount under your Auto Loan's "Details & Settings" tab in digital banking
*For informational purposes only. For tax advice, please speak with a tax professional. For more information about the Made in America deductions or qualifications, please use the resources linked above.
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