What Are The Tax Implications Of Paying Interest?

Interest paid may or may not be tax-deductible depending on the type of interest paid. Use this calculator to help determine what, if any, interest you pay this year may be deductible and to what extent it may save you on taxes.

Federal Income Tax Information
Marginal tax bracket: (%)
Home mortgage interest
First mortgage interest
Second mortgage interest
Home equity loan interest
Investment interest
Investment interest you PAID
Interest and dividends you RECEIVED
Short-term capital gains/losses (-)
Business debt interest
Business debt interest
Personal debt interest
Credit card interest
Auto loan interest
Other personal debt interest

This information may help you analyze your financial planning needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. This service shall not infer that company assumes any fiduciary duties. In addition, such service should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.