taxprep5268
Level 2
12-07-2019
07:15 AM
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Can you deduct (if you itemize) the sales tax paid on a used car purchase? It was my understanding that only new car purchases received such treatment, but I don't see in the Schedule A instructions that the car (or boat) has to be "new", however, at one time I thought it did.
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abctax55
Level 15
12-07-2019
07:15 AM
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There is no restriction that a purchase has to be *new* to take the sales tax deduction.
(Keep an eye on SALT & the new standard deduction tho, as the whole concept may be irrelevant anyway 🙂
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