The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: new car deductions Date:  2/28/2008  11:32 AM
Author:  EarlyToRise Number:  99131 of 127747

The tax experts here may be able to give you a more complete answer, but as I understand it, no. The only things that *are* tax deductible are Vehicle annual fees/taxes that are based on the value of the vehicle.

I believe your sales tax is deductible if you itemize on Schedule A and choose to total up your state sales tax instead of your state income tax.

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us