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3 Answers

Can I claim sales tax for a new car I purchased in 2012?

Asked by: jhuntres 1545 views YA Discussion

I am on turbotax doing my taxes and I want to know if I can claim my car I bought in 2012. If so, where can I do it? I heard you used to be able to but the laws changed. Thanks
No I do not
The amount of the sales tax is $ 1851. I don’t know much about taxes so I don’t even know if it is worth it? That is pretty much the only thing I can use on my taxes

3 Answers

  1. Wayne Z on Jan 26, 2013 Reply

    If you itemize AND you choose to deduct your state’s sales tax instead of state income, you can add the sales tax from the car to the safe harbor amount given by the IRS.

    Generally, if you do not own a house and are paying on a mortgage, you won’t have enough deductions to itemize.

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  2. Bash Limpbutt's Oozing Cyst© on Jan 26, 2013 Reply

    If you itemize your deductions you may deduct either the state and local income taxes that you paid or the state and local sales taxes that you paid. If you paid both, you can choose whichever deduction works best for you.

    If you deduct sales taxes you can either deduct the table amount from the Schedule A instructions or the actual amounts paid that you can prove with receipts. If you use the table, you can add the tax paid on big ticket items such as a car.

    It only makes sense to itemize if your deductions are more than your standard deduction. If this is your only deduction, it’s not likely to be high enough to be of any use unless that was a VERY expensive car.

    Edit: Your standard deduction is at least $ 5,950. You’ll pay less tax using the standard deduction if this tax is your only deduction.

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  3. tro on Jan 26, 2013 Reply

    only place to claim sales tax on a large purchase is sch A, if you don’t itemize it won’t matter

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