It was examined whether psychotic-like personality traits in a sample of 205 college students could predict logical reasoning deficits, akin to those seen in schizophrenia. The participants were tested on their ability to assess the logical validity of premises (Logical Reasoning Task), and completed a multi-dimensional schizotypy inventory (O-LIFE). Low accuracy was associated with increased levels of disorganized schizotypy ('Cognitive Disorganization'), while elevated errors were associated with increased levels of positive ('Unusual Experiences'), negative ('Introvertive Anhedonia') and impulsive ('Impulsivity Non-conformity') schizotypy. Nevertheless, multiple regression analyses revealed that negative schizotypy was retained as the only significant predictor after performance was corrected for random guessing, and the contribution of the average amount of time spent on each premise was controlled. The results suggest that, although most schizotypy dimensions have a detrimental effect on reasoning performance, possibly due to disadvantageous test-taking strategies, negative schizotypy is the most reliable predictor of logical reasoning deficits. It is proposed that social/interpersonal schizotypal traits, like negative symptoms of schizophrenia, are accompanied by deficient executive functions of working memory, which appear to undermine, inter alia, logical reasoning processing.