An curved arrow pointing right. During an event in Missouri on Wednesday, President Donald Trump touted the Tax Reform Act of 1986 and called it "something special." Trump called the same law "a ...

Interest paid on outstanding student loan debt, mortgage and home equity loan debt, business expenses, and interest on money borrowed to purchase investment property qualifies for a deduction.

He unveiled a tax reform plan in 1981 soon after taking office and then helped lead a years-long effort that culminated in a landmark reform in 1986, simplifying the tax rate schedule and ...

The government stopped allowing a tax deduction for credit card interest with the Tax Reform Act of 1986. Interest on student loans, mortgages, home equity loans and business expenses are still ...