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#7
02-15-2005, 05:11 AM
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 Re: Vehicle registration refund. Where on return? "Bernard S" <berniesa[at]pacifier.com> wrote: - quote - > "Etienne" <etiennevb[at]hotmail.com> wrote:
They are one and the same. The VLF (vehicle license fee) IS> > In 2003 I itemized deductions on my tax return. One of the > > deductions was a Cailifornia car registration fee, of which > > the vehicle license fee (VLF) is deductible. > > > After The Governator came in office in California, the > > majority of this 2003 payment was refunded in 2004. For > > 2004, the VLF amount paid is actually much less than the > > amount refunded for 2003 (in 2004). > > > Where does this refund go on my tax return? I tried entering > > a negative amount for my 2004 VLF deduction in Turbotax, but > > it doesn't accept negative numbers. > The license fee is not deductible. The ad valorem or > property tax is deductible. The refund was for the reduction > of the property tax. that part of the registration that is based on the value of the vehicle, i.e., property tax. The VLF is what you deduct and a portion of the VLF is what was refunded. My guess is that it should be reported on line 10 of the 1040. -- -Ernie- "There are only two kinds of computer users -- those who have suffered a catastrophic hard drive failure, and those who will." Have you done your backup today? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#6
02-14-2005, 12:28 AM
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| Re: Vehicle registration refund. Where on return? "Etienne" <etiennevb[at]hotmail.com> wrote: - quote - > In 2003 I itemized deductions on my tax return. One of the
The license fee is not deductible. The ad valorem or> deductions was a Cailifornia car registration fee, of which > the vehicle license fee (VLF) is deductible. > After The Governator came in office in California, the > majority of this 2003 payment was refunded in 2004. For > 2004, the VLF amount paid is actually much less than the > amount refunded for 2003 (in 2004). > Where does this refund go on my tax return? I tried entering > a negative amount for my 2004 VLF deduction in Turbotax, but > it doesn't accept negative numbers. property tax is deductible. The refund was for the reduction of the property tax. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#5
02-10-2005, 08:24 AM
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| Re: Vehicle registration refund. Where on return? "Etienne" <etiennevb[at]hotmail.com> wrote: - quote - > In 2003 I itemized deductions on my tax return. One of the
Line 21 on Form 1040.> deductions was a Cailifornia car registration fee, of which > the vehicle license fee (VLF) is deductible. > After The Governator came in office in California, the > majority of this 2003 payment was refunded in 2004. > Where does this refund go on my tax return? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#4
02-10-2005, 08:24 AM
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| Re: Vehicle registration refund. Where on return? "Etienne" <etiennevb[at]hotmail.com> wrote: - quote - > In 2003 I itemized deductions on my tax return. One of the
Line 21 Other Income> deductions was a Cailifornia car registration fee, of which > the vehicle license fee (VLF) is deductible. > After The Governator came in office in California, the > majority of this 2003 payment was refunded in 2004. For > 2004, the VLF amount paid is actually much less than the > amount refunded for 2003 (in 2004). > Where does this refund go on my tax return? I tried entering > a negative amount for my 2004 VLF deduction in Turbotax, but > it doesn't accept negative numbers. -- Tom Healy, CPA Boulder, CO Web: http://www.tomhealycpa.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#3
02-10-2005, 07:27 AM
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| Re: Vehicle registration refund. Where on return? Etienne wrote: - quote - > In 2003 I itemized deductions on my tax return. One of the
The VLF is a personal property tax. If you recover an amount> deductions was a Cailifornia car registration fee, of which > the vehicle license fee (VLF) is deductible. > After The Governator came in office in California, the > majority of this 2003 payment was refunded in 2004. For > 2004, the VLF amount paid is actually much less than the > amount refunded for 2003 (in 2004). > Where does this refund go on my tax return? I tried entering > a negative amount for my 2004 VLF deduction in Turbotax, but > it doesn't accept negative numbers. that you previously deducted in 2003 you report it on Line 21 of the 1040 unless you did not receive the full benefit of your itemized deductions. In that case, you need to use the worksheet in IRS Pub 525 under Recoveries to make the calculation. http://www.irs.gov/publications/index.html -- Alan http://taxtopics.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
02-10-2005, 07:08 AM
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| Re: Vehicle registration refund. Where on return? "Etienne" <etiennevb[at]hotmail.com> wrote: - quote - > In 2003 I itemized deductions on my tax return. One of the
Why would you enter income as a negative number? Income is> deductions was a Cailifornia car registration fee, of which > the vehicle license fee (VLF) is deductible. > After The Governator came in office in California, the > majority of this 2003 payment was refunded in 2004. For > 2004, the VLF amount paid is actually much less than the > amount refunded for 2003 (in 2004). > Where does this refund go on my tax return? I tried entering > a negative amount for my 2004 VLF deduction in Turbotax, but > it doesn't accept negative numbers. a positive number, and this is "Other Income". -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
02-10-2005, 06:10 AM
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| Re: Vehicle registration refund. Where on return? Enter the refunded amount on Form 1040, Line 21, "Other Income". Enter the full amount you paid for 2004 on Schedule A as usual. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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02-10-2005, 04:54 AM
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| Re: Vehicle registration refund. Where on return? "Etienne" <etiennevb[at]hotmail.com> wrote: - quote - > In 2003 I itemized deductions on my tax return. One of the
Line 21 of Form 1040. See "Recoveries" in IRS Publication 525.> deductions was a Cailifornia car registration fee, of which > the vehicle license fee (VLF) is deductible. > After The Governator came in office in California, the > majority of this 2003 payment was refunded in 2004. For > 2004, the VLF amount paid is actually much less than the > amount refunded for 2003 (in 2004). > Where does this refund go on my tax return? -- Phil Marti Clarksburg, MD << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-09-2005, 05:12 AM
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| Vehicle registration refund. Where on return? In 2003 I itemized deductions on my tax return. One of the deductions was a Cailifornia car registration fee, of which the vehicle license fee (VLF) is deductible. After The Governator came in office in California, the majority of this 2003 payment was refunded in 2004. For 2004, the VLF amount paid is actually much less than the amount refunded for 2003 (in 2004). Where does this refund go on my tax return? I tried entering a negative amount for my 2004 VLF deduction in Turbotax, but it doesn't accept negative numbers. Thanks, Etienne << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| refund, registration, return, vehicle |
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