Deducting Loan Interest

[TSDaycare]

How do I deduct loan interest on a loan that was taken out to pay taxes due? I've had it for 3 years already, but it just occurred to me I may be able to use it as a deduction.

[TomCopeland]

loan interest

How do I deduct loan interest on a loan that was taken out to pay taxes due? I've had it for 3 years already, but it just occurred to me I may be able to use it as a deduction.

Use your time-space % to deduct this loan interest.