I have income from Microfit solar power generation. Are loan payments eligible as a deduction? A private loan was obtained to fund the installation of the panels.
For the next five years, the loan payments will exceed the revenue from the Microfit generation.
If the Loan is documented (Promissory Note) and you are making regular periodic payments you can claim the Interest portion of the loan only. You can create an Amortization schedule at a number of free websites for this purpose.
