I want to deduct the sales tax on the car I bought this year as well as other sales tax paid throughout the year. Isn’t this allowable for residents of states like FL that don’t have a state income tax to deduct?
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Can Floridians Deduct State Sales Tax From Federal Income Taxes And How Is Total Sales Tax Calculated?
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PepsiLim 12:24 am on December 28, 2009 Permalink
Yes, you can deduct state sales tax from federal income taxes on Schedule A – Itemized Deductions – Line 5. That deduction was supposed to expire for 2006, but Congress renewed it. If you are using a tax program you should be able to indicate what state you paid the sales tax for, and also should be able to add in any sales taxes paid for large purchases. If you don’t have a tax program try going on-line to the IRS website, http://www.irs.gov, and they should have a worksheet for you to fill out to calculate your sales tax paid.
zyberian… 2:47 am on December 28, 2009 Permalink
nope only on property tax are you allowed to do so (unless the car is for a business purpose and the other things are related to work expenses) nice try