An in-depth explanation of Personal Interest Expense, how it differs from business interest expenses, examples, FAQs, related terms, and additional resources.
Personal interest expense refers to any interest that is not categorized as home mortgage interest, investment interest, or business interest. The tax deduction for personal interest expense was completely eliminated after 1990.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.