| | |||
| |||
| T.C. Mann wrote: - quote - > Hello,
No. It is a sales and use tax. If you elect to deduct state> I purchased a used vehicle in Nov. of '05 and was charged > almost $800.00 by the DMV. > The breakdown of the amount is as follows: > Registration Fee $145.00 > Title Fee $10.00 > Sales & Use Tax $640.00 > Can any of the above fees be deducted on my Federal tax > return on Sch. A? I know that personal property tax is > deductible. For this purpose, is "Sales and Use Tax" > considered to be the same thing? sales taxes instead of state income taxes on Schedule A the $640 can be added to the amount generated using the IRS provided table for your state. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
|
#-1
| |||
| |||
| Hello, I purchased a used vehicle in Nov. of '05 and was charged almost $800.00 by the DMV. The breakdown of the amount is as follows: Registration Fee $145.00 Title Fee $10.00 Sales & Use Tax $640.00 Can any of the above fees be deducted on my Federal tax return on Sch. A? I know that personal property tax is deductible. For this purpose, is "Sales and Use Tax" considered to be the same thing? Thank you, T.C. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| deductible, dmv, purchase, sales, tax, vehicle |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| Forfeited investment property purchase deposit tax deductible? qmqm@she.com: It is for an investment property (residential) we were planning to buy from the builder, but changed our mind due to the market condition at... | Taxes | 2 | 04-03-2006 03:54 AM | |
| Personal Mileage, Co Vehicle, Outside sales? Ken B. Winger: Co. provides company passenger vehicles where EE is outside sales, has no regular place of work. EE has established tax home within a metropolitan... | Taxes | 1 | 12-22-2004 01:53 PM | |
| Deductible sales tax? James Ries EA: Quote from Tax Analysis article: "State taxpayers would be able to choose whether to deduct sales or income tax -- whichever is higher -- from... | Taxes | 16 | 11-01-2004 07:52 PM | |
| Failed business/car purchase still deductible (as LOSS)? Steve Richardson: I was self employed 2002 - bought new car for transportation for the business, which failed by the end of the year. Took depreciation of $3600 last... | Taxes | 1 | 02-03-2004 02:47 AM | |
| Travel expenses tax deductible for property purchase? George C: Question about tax deduction on home/condo purchase. Traveled to Hawaii in for 2 weeks end of June for purpose of purchasing a condo. (to be used... | Taxes | 2 | 09-15-2003 11:54 PM | |
| Thread Tools | |
| Display Modes | |
| |