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Old 04-08-2009, 12:47 PM
Drew Edmundson
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Default Re: Car Registration Fee

On Tue, 7 Apr 2009 18:23:09 EDT, Drew27410
<blaha[at]triad.rr.com> wrote:

- quote -

> I'm assuming TurboTax has made a mistake, again, but they do have me
> worried.
> I live in North Carolina.
> My car registration fee is based on the value of the car.
> Therefore, I have always understood that the fee is deductible, and I
> have in fact claimed it for as long as I can remember under other
> taxes.
> Turbo tax lists explicitly the states whose registration fees are
> deductible for federal taxes. North Carolina is not listed. I assume
> this is there mistake; or am I missing something?


Are you talking about the road use tax paid when you buy a
car? If so, then it is not deductible as a personal property
tax. To qualify as a property tax it has to be charged
annually. The road use tax is a one time tax, paid when you
get the title. The road use tax does count as a sales tax so
you can claim it if you choose to itemize sales taxes
instead of state income taxes.

The flat DMV fee for the license plate is not deductible.

As far as I know, all NC counties and cities with a real
estate tax charge it on vehicles. This tax is annual and is
deductible. The county/city bill is separate from the DMV
license plate bill.

Drew Edmundson, CPA
Cary, NC

--
<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >
 
Old 04-08-2009, 03:39 AM
catalpa
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Posts: n/a
Default Re: Car Registration Fee


"Drew27410" <blaha[at]triad.rr.com> wrote in message
news:87e591bd-0c20-42ae-af67-386be4c54640[at]z1g2000yqn.googlegroups.com...
- quote -

> I'm assuming TurboTax has made a mistake, again, but they do have me
> worried.
> I live in North Carolina.
> My car registration fee is based on the value of the car.
> Therefore, I have always understood that the fee is deductible, and I
> have in fact claimed it for as long as I can remember under other
> taxes.
> Turbo tax lists explicitly the states whose registration fees are
> deductible for federal taxes. North Carolina is not listed. I assume
> this is there mistake; or am I missing something?
> Thanks for your time.


The North Carolina DOT website states that North Carolina has a flat $28.00
registration fee for private automobiles.

--
<< ------------------------------------------------------- > << 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  
Old 04-07-2009, 10:23 PM
Drew27410
Guest
 
Posts: n/a
Default Car Registration Fee

I'm assuming TurboTax has made a mistake, again, but they do have me
worried.
I live in North Carolina.
My car registration fee is based on the value of the car.
Therefore, I have always understood that the fee is deductible, and I
have in fact claimed it for as long as I can remember under other
taxes.

Turbo tax lists explicitly the states whose registration fees are
deductible for federal taxes. North Carolina is not listed. I assume
this is there mistake; or am I missing something?

Thanks for your time.

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