Car Loan Interest Deduction Calculator MCP

{
  "type": "object",
  "$schema": "http://json-schema.org/draft-07/schema#",
  "required": [
    "filing_status",
    "magi",
    "tax_year",
    "interest_paid"
  ],
  "properties": {
    "magi": {
      "type": "number",
      "maximum": 10000000000,
      "minimum": 0,
      "description": "Modified adjusted gross income in USD (Form 1040 line 11b plus excluded foreign and Puerto Rico income)."
    },
    "is_lease": {
      "type": "boolean",
      "description": "True if this is a lease. Lease payments never qualify."
    },
    "tax_year": {
      "type": "integer",
      "maximum": 2028,
      "minimum": 2025,
      "description": "Tax year, 2025 to 2028. The deduction ends after 2028."
    },
    "new_vehicle": {
      "type": "boolean",
      "description": "True if the original use starts with you (new). Used vehicles do not qualify."
    },
    "personal_use": {
      "type": "boolean",
      "description": "True if you expect personal use more than 50% of the time."
    },
    "vehicle_type": {
      "enum": [
        "car",
        "minivan",
        "van",
        "suv",
        "pickup",
        "motorcycle",
        "other"
      ],
      "type": "string",
      "description": "car, minivan, van, suv, pickup, motorcycle or other."
    },
    "filing_status": {
      "enum": [
        "single",
        "married_filing_jointly",
        "married_filing_separately",
        "head_of_household",
        "qualifying_surviving_spouse"
      ],
      "type": "string",
      "description": "Federal filing status."
    },
    "interest_paid": {
      "type": "number",
      "maximum": 10000000000,
      "minimum": 0,
      "description": "Interest paid or accrued on the vehicle loan in the year, in USD (the lender's year-end statement)."
    },
    "marginal_tax_rate": {
      "type": "number",
      "maximum": 0.37,
      "minimum": 0,
      "description": "Your federal marginal rate as a decimal (e.g. 0.22) to estimate the tax saved."
    },
    "us_final_assembly": {
      "type": "boolean",
      "description": "True if final assembly was in the United States (vehicle label or NHTSA VIN decoder)."
    },
    "gvwr_under_14000_lbs": {
      "type": "boolean",
      "description": "True if the gross vehicle weight rating is under 14,000 pounds."
    },
    "loan_origination_date": {
      "type": "string",
      "pattern": "^\\d{4}-\\d{2}-\\d{2}$",
      "description": "Date the loan was originated, YYYY-MM-DD. Must be after 2024-12-31."
    },
    "secured_by_first_lien": {
      "type": "boolean",
      "description": "True if the loan is secured by a first lien on the vehicle."
    },
    "interest_deducted_elsewhere": {
      "type": "number",
      "maximum": 10000000000,
      "minimum": 0,
      "description": "Part of that interest already deducted on Schedule C, E or F. It cannot be deducted twice."
    }
  },
  "additionalProperties": false
}

{
  "title": "Car loan interest deduction (2025-2028)",
  "readOnlyHint": true,
  "openWorldHint": false,
  "idempotentHint": true,
  "destructiveHint": false
}

{
  "type": "object",
  "$schema": "http://json-schema.org/draft-07/schema#",
  "required": [
    "filing_status",
    "magi",
    "tax_year",
    "state_and_local_taxes"
  ],
  "properties": {
    "magi": {
      "type": "number",
      "maximum": 10000000000,
      "minimum": 0,
      "description": "Modified adjusted gross income in USD (Form 1040 line 11b plus excluded foreign and Puerto Rico income)."
    },
    "tax_year": {
      "type": "integer",
      "maximum": 2035,
      "minimum": 2025,
      "description": "Tax year, 2025 or later. 2027-2029 amounts are the statutory 101% steps; 2030 on is $10,000."
    },
    "filing_status": {
      "enum": [
        "single",
        "married_filing_jointly",
        "married_filing_separately",
        "head_of_household",
        "qualifying_surviving_spouse"
      ],
      "type": "string",
      "description": "Federal filing status."
    },
    "state_and_local_taxes": {
      "type": "number",
      "maximum": 10000000000,
      "minimum": 0,
      "description": "State and local income (or sales) tax plus real estate and personal property tax paid in the year (Schedule A line 5d)."
    },
    "other_itemized_deductions": {
      "type": "number",
      "maximum": 10000000000,
      "minimum": 0,
      "description": "Other itemized deductions (mortgage interest, gifts to charity, medical over the floor). Give it to compare itemizing with the standard deduction."
    }
  },
  "additionalProperties": false
}

{
  "title": "SALT deduction cap (2025-2030)",
  "readOnlyHint": true,
  "openWorldHint": false,
  "idempotentHint": true,
  "destructiveHint": false
}

{
  "type": "object",
  "$schema": "http://json-schema.org/draft-07/schema#",
  "required": [
    "tax_year"
  ],
  "properties": {
    "tax_year": {
      "type": "integer",
      "maximum": 2027,
      "minimum": 2025,
      "description": "2025 or 2026. 2027 returns a not-yet-published error."
    },
    "filing_status": {
      "enum": [
        "single",
        "married_filing_jointly",
        "married_filing_separately",
        "head_of_household",
        "qualifying_surviving_spouse"
      ],
      "type": "string",
      "description": "Leave out to get all filing statuses."
    },
    "taxable_income": {
      "type": "number",
      "maximum": 10000000000,
      "minimum": 0,
      "description": "Taxable income to compute tax on (needs filing_status)."
    }
  },
  "additionalProperties": false
}

{
  "title": "2025 and 2026 federal brackets and standard deduction",
  "readOnlyHint": true,
  "openWorldHint": false,
  "idempotentHint": true,
  "destructiveHint": false
}

{
  "type": "object",
  "$schema": "http://json-schema.org/draft-07/schema#",
  "required": [
    "filing_status",
    "magi",
    "tax_year",
    "qualifying_children"
  ],
  "properties": {
    "magi": {
      "type": "number",
      "maximum": 10000000000,
      "minimum": 0,
      "description": "Modified adjusted gross income in USD (Form 1040 line 11b plus excluded foreign and Puerto Rico income)."
    },
    "tax_year": {
      "type": "integer",
      "maximum": 2027,
      "minimum": 2025,
      "description": "2025 or 2026. 2027 is not yet published."
    },
    "earned_income": {
      "type": "number",
      "maximum": 10000000000,
      "minimum": 0,
      "description": "Earned income for the refundable part. Defaults to MAGI."
    },
    "filing_status": {
      "enum": [
        "single",
        "married_filing_jointly",
        "married_filing_separately",
        "head_of_household",
        "qualifying_surviving_spouse"
      ],
      "type": "string",
      "description": "Federal filing status."
    },
    "other_dependents": {
      "type": "integer",
      "maximum": 20,
      "minimum": 0,
      "description": "Other dependents (credit for other dependents, $500 each)."
    },
    "qualifying_children": {
      "type": "integer",
      "maximum": 20,
      "minimum": 0,
      "description": "Children under 17 at year end with a valid SSN."
    },
    "tax_liability_before_credits": {
      "type": "number",
      "maximum": 10000000000,
      "minimum": 0,
      "description": "Income tax before credits (Form 1040 line 18). Estimated from MAGI if left out."
    }
  },
  "additionalProperties": false
}

{
  "title": "Child tax credit (2025-2026)",
  "readOnlyHint": true,
  "openWorldHint": false,
  "idempotentHint": true,
  "destructiveHint": false
}