|
#3
| |||
| |||
| On Tue, 25 Mar 2008 14:16:06 EDT, Tom Russ <tar[at]isi.edu> wrote: - quote - > On Mar 24, 4:15*pm, richardsta...[at]comcast.net wrote:
I will do that . Thanks.> > (2) I live in Washington State, which the general sales tax differs > > from county to county. I understand you cannot deduct a major purchase > > if the sales tax is not at the general rate. But I paid different > > general rates in different counties and TurboTax won't let me deduct > > items at different rates. > By chance I accidentally ended up in that part of TurboTax last night. > The interview may not cover this case, but if you go to the forms > view, IIRC there is a table for multiple entries of state + local > sales tax rates that you can use to enter this information. But you > need to do it from the forms page. -Dick -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
|
#2
| |||
| |||
| On Mar 24, 4:15*pm, richardsta...[at]comcast.net wrote: - quote - > (2) I live in Washington State, which the general sales tax differs
By chance I accidentally ended up in that part of TurboTax last night.> from county to county. I understand you cannot deduct a major purchase > if the sales tax is not at the general rate. But I paid different > general rates in different counties and TurboTax won't let me deduct > items at different rates. The interview may not cover this case, but if you go to the forms view, IIRC there is a table for multiple entries of state + local sales tax rates that you can use to enter this information. But you need to do it from the forms page. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
|
#1
| |||
| |||
| On Mon, 24 Mar 2008 21:07:42 EDT, "GSalisbury" <salsburyg.at.comcast.dot.net[at]giganews.com> wrote: - quote - > <richardstartz[at]comcast.net> wrote in message
A good suggestion. I'll do that, thanks.> news:e7cgu39pmjbimlfk6as431cpqfoftnil3a[at]4ax.com... > > I have a couple of major confusions about deducting sales taxes on > > major purchases on 2007 US Income tax (in addition to the general > > sales tax deduction.) I'm not sure if I really have a TurboTax > > question or a question about the tax code. > <snip> <snip> TurboTax won't let me deduct items at different rates. > > > Any advice would be much appreciated. > > I use TaxCut but have to believe TC and TT would be pretty similar in this > regard... > Taxcut, it appears, will let me modify the Schedule A and it's worksheet > directly if I so desired. > I would think that so too would TT, in which case, you can resolve the rate > differences manually by totals and keeping your [good] records handy. > Just a thought on the entry process. > Geo. (Now i just have to figure out about the rules part.) -Dick -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
| | |||
| |||
| <richardstartz[at]comcast.net> wrote in message news:e7cgu39pmjbimlfk6as431cpqfoftnil3a[at]4ax.com... - quote - > I have a couple of major confusions about deducting sales taxes on
regard...> major purchases on 2007 US Income tax (in addition to the general > sales tax deduction.) I'm not sure if I really have a TurboTax > question or a question about the tax code. <snip<snipTurboTax won't let me deduct items at different rates. > Any advice would be much appreciated. I use TaxCut but have to believe TC and TT would be pretty similar in this Taxcut, it appears, will let me modify the Schedule A and it's worksheet directly if I so desired. I would think that so too would TT, in which case, you can resolve the rate differences manually by totals and keeping your [good] records handy. Just a thought on the entry process. Geo. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
|
#-1
| |||
| |||
| I have a couple of major confusions about deducting sales taxes on major purchases on 2007 US Income tax (in addition to the general sales tax deduction.) I'm not sure if I really have a TurboTax question or a question about the tax code. The issue begins with me having had two remodels: one on my primary residence and one on a second home. (1) The IRS web site (document FS-2006-9, January 2006) says you deduct sales tax on "major renovation of a home," but TurboTax says you can deduct sales tax on "building materials." These are pretty different. Which is right? (2) I live in Washington State, which the general sales tax differs from county to county. I understand you cannot deduct a major purchase if the sales tax is not at the general rate. But I paid different general rates in different counties and TurboTax won't let me deduct items at different rates. Any advice would be much appreciated. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
| Tags |
| deduction, major, purchase, sales, tax |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| Sales tax on condo purchase? Rick: I am a Florida resident, and I understand we are allowed to deduct Florida sales taxes on our 2006 federal income tax returns. I have a mailing... | Taxes | 3 | 02-15-2007 02:02 AM | |
| Deduction? Apprisal fee to purchase rental property. Jabs: In November 2005 I purchased a rental home as an invest. I had to get a mortgage to purchase it and therefore I had to pay a "appraisal fee" of... | Taxes | 5 | 06-02-2006 04:20 AM | |
| Is DMV Sales & Use Tax on Vehicle Purchase Deductible? T.C. Mann: 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: ... | Taxes | 1 | 04-05-2006 08:12 AM | |
| Deduction of points on land purchase Acadia: We purchased land in 2005 for our retirement. Are we able to deduct the points paid in settlement for that mortgage on our 2005 Income Tax return?... | Taxes | 3 | 02-01-2006 01:39 AM | |
| sales tax deduction Joan Kaapke: I live in Texas and plan to itemize for 2004. I understand I may be able to deduct sales tax. I don't have receipts, so am wondering if there... | Taxes | 30 | 11-12-2004 05:38 AM | |
| Thread Tools | |
| Display Modes | |
| |