Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Oct 30, 2019 12:10:23 PM

Can I claim business loan principal payments and if so where?

0 1 672
1 Replies
Level 15
Oct 30, 2019 12:10:24 PM

No, the principal portion of any loan used to generate income is not deductible. You can only claim the interest portion. 

https://turbotax.intuit.ca/tips/is-interest-deductible-5459