2010 Sales Tax

Today TaxMama hears from Brian in the TaxQuips Forum with a good question.
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  “I bought a new 2010 personal car in 2010.

Is the car sales tax deductible on 2010 taxes?”

Hi Brian,

 Don’t you just love that new car smell – and that fresh, sparkly warranty?

 The best place to look for the answer to your question is the most current version of the 2010 Schedule L.  Right there, on Line 9 is a place to enter the sales tax on new motor vehicles.

Uh oh! What the instructions say is to pick up the sales and use tax paid in 2010 on vehicles you purchased after February 16, 2009, and before January 1, 2010.


 Why would you be paying sales taxes in the subsequent year?
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Aaaahhhh. You bought the vehicle in 2009 in a different state with either no sales taxes, or lower sales taxes than in your state.  Then, when you filed your state tax return for 2010, you paid use taxes to your state!

OK, now I understand.

Oh well, I guess if you paid all the sales tax on your car in 2009, there is no deduction on the 2010 tax return. Or if you bought the car in 2010, there is no deduction. Alas. Sorry!

And remember, you can find answers to all kinds of questions about new tax laws, and other tax issues, free.

Where? Where else? At www.TaxMama.com.

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