JoeSixPack wrote:
- quote -

Are you speaking of deducting liquor tax on the federal return? If so,
how long ago WAS that? Sounds like before my time.

ChEAr$,
Harlan Lunsford, EA n LA

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"Paul Thomas, CPA" <paulthomascpapc[at]bellsouth.net> wrote in message
news:ZbTzk.34423$XT1.5281[at]bignews5.bellsouth.net...
- quote -

At one time you could even deduct liquor tax if the tax was levied in a
certain way; i.e. on the consumer rather than the seller.
Another favorite was the "pole" tax. There used to be a $ 1.50 State and
25¢ county poll tax in Texas.

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Alan wrote:

- quote -


- quote -

Thanx for the clarification. I was agreeing with OP about what the
instructions in the IRS pub said, but it wouldn't occur to me to deduct
the tax on property not also owned.

I am also aware of the issues of equitable ownership vs. legal
ownership, I think that came up in the same earlier thread. I suppose
that would apply to personal property tax as well as real property tax.

http://www.taxalmanac.org/index.php/...cial_Ownership

-Mark Bole

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Mark Bole wrote:
- quote -

stated then that there is a general rule (I don't have the
citation) that says a taxpayer can not take a deduction for the
payment of the expenses of another individual unless specifically
identified in the code. E.g., medical expenses incurred for a
dependent or spouse. Basically, the expense must be incurred for
the taxpayer's benefit or originate from that taxpayer's
obligation. It's one of the disallowance rules.

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<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >

nish wrote:

- quote -

You are confusing Line 7 personal property with Line 6, real estate
taxes. The instructions for line 6 do state you have to own the property.

Personal property tax, on line 7, is ad valorem tax such as the portion
of your vehicle registration that is based on the value of your vehicle.
You're right, the instructions don't specify you have to own the property.

-Mark Bole

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<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >

"nish" <nisha[at]nunya.org> wrote in message
news:2t-dnUWFgoq_01LVnZ2dnUVZ_jOdnZ2d[at]giganews.com...
- quote -

No. It's one or the other. It was added to try to create some parity for
those states where there is no state income tax. However, you're free to
claim whichever of these two items is more.

- quote -

No. You cannot deduct someone else's property tax. You may also have a
gift tax issue should the amount be over $12k.

- quote -

It means alot to those NOT subject to AMT.

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<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >

"nish" <nisha[at]nunya.org> wrote
- quote -



You have to draw lines somewhere. That's where Congress drew the line this
time.
At one time, eons ago it seems, they allowed deductions for taxes on tobacco
products and other items.
One day, years from now, we'll stand in awe of the deductions that were
allowed and the credits that were available in 2007, and we'll proclaim
these years "the good old days".







- quote -


Not for federal purposes. You have to own the property and be liable for
the tax to be able to deduct it.
Some states allow a deduction, as a percent of rent paid, toward a property
tax credit or deduction.
But to deduct that, you have to have made the rent payment and not just
lived there with a friend.





- quote -



Maybe.

They mean a lot to those who AMT does not impact.




--
Paul A. Thomas, CPA
Watkinsville, Georgia

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<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >

Schedule A for Itemized Deductions contains lines for claiming state and
local income taxes, or general sales tax. Is there any way to get any
compensation for sales tax if you are claiming the state income tax? It's
a shame if no, since in some states the tax burden is heavy for both income
tax and sales tax. In effect there is a kind of discrimination at work on
this form against the resident of any state that balances the tax burden
across income tax and sales tax.

Line 7 has a deduction for Personal Property Taxes. Reading the
instructions, I don't see any requirement that you be the owner of the
property. If you simply live in a residence owned by another person, and
you personally pay the property tax, can you claim it as a legitimate
deduction?

And in the big picture, I guess none of these deductions mean a whole lot
anyway, since they get backed out in the Form 6251 AMT calculation?

nish

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<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >