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Publication 6126 (1-2026) Catalog Number 96044A Department of the Treasury Internal Revenue Service www.irs.gov Purchased A New Vehicle? If you bought a new, personal vehicle in 2025-2028, you may be able to deduct interest paid on the vehicle loan. A qualified vehicle includes a car, minivan, van, SUV, pick-up truck or motorcycle, with a gross vehicle weight rating of less than 14,000 pounds and has undergone final assembly in the United States. The new deduction is available for both itemizing and non-itemizing taxpayers. The VIN must be included on the tax return for any year the deduction is claimed. The maximum annual deduction is $10,000 and phases out for taxpayers with modified adjusted gross income over $100,000 ($200,000 for joint filers). To qualify for the deduction, the interest must be paid on a loan for a vehicle that is new, for personal use and purchased after December 31, 2024. If a qualifying vehicle loan is later refinanced, interest paid on the refinanced amount is generally eligible for the deduction. For more information and additional requirements, refer to the One, Big, Beautiful Bill provisions One, Big, Beautiful Bill provisions page on IRS.gov. To determine if a vehicle had final assembly in the U.S., check one of these: ~ The information label attached to the vehicle on a dealer’s premises ~ The vehicle identification number (VIN) ~ The National Highway Traffic Safety Administration (NHTSA) VIN N Deco coder