What is an example of a personal expense that cannot be deducted for tax purposes?

Personal mortgage interest is a type of expense that can often be deducted on your tax return if the property is used as your primary residence or a second home. However, it becomes non-deductible when viewed as a personal expense that does not relate directly to the production of income or a business purpose. Unlike expenses directly related to business activities or certain qualified deductions, mortgage interest is considered a personal financial obligation.

In contrast, the other options listed are associated with deductions that can be classified under different tax rules. Business travel can be deductible when incurred in the course of earning business income, while health insurance premiums may be deductible if they meet specific criteria set forth by the IRS. Costs related to business equipment are also generally capitalized and can provide a depreciation deduction over time. Thus, personal mortgage interest stands out as an expense that is primarily personal in nature and does not qualify for the same deductions as expenses incurred for business or income-generating activities.