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Author: asmdood One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121585  
Subject: Can I deduct State sales taxes? Date: 3/4/2001 10:17 PM
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I have already filed my return for FY2000 so this question won't help nor hurt me. A friend of mine told me that you can deduct State sales taxes and itemize the deduction on line 8 of Schedule A of the 1040 form.

I read something about taxes on personal property in the directions, but my knowledge of what denotes "personal property" is occluded.

I guess what I should have asked (and am trying to determine) is that if you kept all receipts for the entire year, can you total the State sales taxes that you paid and claim it as a line item on schedule A?

His statement didn't seem correct to me. Any help or direction on where to find the information would be appreciated.
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Author: BigBunkler Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47673 of 121585
Subject: Re: Can I deduct State sales taxes? Date: 3/5/2001 2:41 AM
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...if you kept all receipts for the entire year, can you total the State sales taxes that you paid and claim it as a line item on schedule A?
=== === ===
Nope; state and local sales taxes are not deductible on Schedule A; see p. 149 of IRS Publication 17. [Back in the 1980's, they were deductible, but things have changed quite a bit since then.]
--BigBunk

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Author: acm4tax Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47846 of 121585
Subject: Re: Can I deduct State sales taxes? Date: 3/7/2001 1:02 AM
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...if you kept all receipts for the entire year, can you total the State sales taxes that you paid and claim it as a line item on schedule A?
=== === ===
Nope; state and local sales taxes are not deductible on Schedule A; see p. 149 of IRS Publication 17. [Back in the 1980's, they were deductible, but things have changed quite a bit since then.]
--BigBunk


Good things are hard to forget, aren't they?

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