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.

[carm_nelson]

For the next five years, the loan payments will exceed the revenue from the Microfit generation.

[TurboTaxTerry · Accepted solution]

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.