Level 1

Question

CAN NOT FIND FORM 1099-VLI

Forum|Forum|4 months ago
February 24, 2026
5 replies
12 views

Under the BBB Act of 2025, vehicle loan interest on American Made vehicles purchased in 2025 may be deducted on form 1099-VLI. I can not find this form. Has anyone encountered this issue?

ProSeries Professional

sjrcpa

Level 15

The interest is reported on that form to the borrower. Not deducted on that form.

If it qualifies for the deduction it goes on Schedule 1-A.

The more I know the more I don’t know.

J

JohnHelldorfer

Level 2

How do you enter it on Schedule 1-A?

dd4vols

Intuit Community Champion

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qbteachmt

Level 15

Form 1098-VLI (Vehicle Loan Interest Statement) is used by lenders, financial institutions, and businesses that receive $600 or more in interest on a "specified passenger vehicle loan" (SPVL) from an individual, estate, or trust during the tax year. It reports interest, principal, and vehicle details to the IRS and borrowers for tax deductions.

It's similar in concept to the mortgage interest reporting.

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A

AL23

Level 3

I found this article that help me. I made some changes to make it more specific.

Go to Input Return ⮕ Deductions then Adjustments to Income. Look on the top the Tab: Additional Deductions
Select the No Tax on Car Loan Interest (Schedule 1-A) section.
Click in the Applicable Passenger Vehicle (Click on button to expand) field.
Enter the VIN, the Interest Deducted Elsewhere and the Interest for Schedule 1-A for each qualified vehicle.

ALopez

A

AL23

Level 3

Sorry, I forgot to include the full article reference. Apologies. Is a great one about the Sch !-A

https://accountants.intuit.com/support/en-us/help-article/form-1040/generating-schedule-1-proconnect-tax/L1K2ZHxTn_US_en_US?uid=mm9nu8zv

ALopez

M

Mybesttaxservice

Level 5

Per law, IRS demands lender to issue form 1099-VLI in 2026 and future (likely 1098 mortgage int)

You can ask the client "Retail Installment Sale contract to get info: such as name of vehicle, new, date of purchase, PIN and calculate interest paid during 2025

Fille on sche 1-A "part veh interest loan deduction"

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