The deduction for loans with 3 or more borrowers is a rather unknown deduction. It applies if you have taken out a loan with a bank, for example, where there are 3 or more borrowers. That is, all persons are liable for their share of the debt.
It is one of the deductions for expenses to banks and loan providers that is not automatically reported, like the deduction for guarantee commission or the deduction for 2-year loans. We guide you through it in this article.
In this article we will go through:
When you take out a loan, e.g. a bank loan, either alone or with a partner, all interest is automatically reported to SKAT. But in cases where, for example, 3 people go to the bank together and take out a loan, this is not automatically reported to SKAT.
It is one of the few bank loans that is not reported automatically. This could be due to a lack of IT infrastructure or too few cases of this type. But in any case, on equal terms with all other bank loans, you can get a deduction for this.
The deduction itself is the interest paid. Here it is important that you simply declare your own share of the interest. For example, if you have to pay 1/3 of the loan, you pay 1/3 of the interest, and it is this interest that you can deduct.
There are some other elements to be aware of with this deduction:
In TaxHelper, we help you find the deductions you're entitled to. You answer a few simple questions that take just 15 minutes to complete.
Then we report the deductions, and you get an extra DKK 2,704 back in tax. At the same time, you only pay if you get a tax saving.
If you have bought or sold a home, there are several deductions to be aware of.
The deduction for guarantee commission is one of the more unknown and overlooked deductions.