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    Sales tax on vehicles

    Has anyone had or seen this? Clipping from USA Weekend March 5-7, 2010, "Trim auto sales taxes. Buy a new car between Feb 17 and Dec 31, then you can write off at least some of its state and local sales tax,.......... You don't need to itemize, but the car had to cost $49,500 or less to qualify for the writeoff."

    Have I missed something somwhere that sales tax on auto is not a Sch A deduction.

    Client sent clipping with tax info so I would BE SURE and take the credit for them.

    #2
    See TTB page 4-9. Sales tax on new cars purchased from 2/17/09-12/31/09 is deductible even if you do not itemize. If not itemizing, the deduction goes on Sch L.

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      #3
      Loads of 'em! Can't believe how many people bought new vehicles last yr. Just sent a client back home to get the sales invoice on their new Gold Wing. She didn't even know about the deduction, just going off to me about how fun the new bike is. I said, well the new bike'll pay for your tax prep this year!

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        #4
        Originally posted by spt View Post
        Has anyone had or seen this? Clipping from USA Weekend March 5-7, 2010, "Trim auto sales taxes. Buy a new car between Feb 17 and Dec 31, then you can write off at least some of its state and local sales tax,.......... You don't need to itemize, but the car had to cost $49,500 or less to qualify for the writeoff."

        Have I missed something somwhere that sales tax on auto is not a Sch A deduction.

        Client sent clipping with tax info so I would BE SURE and take the credit for them.
        the newspaper clipping is inaccurate since it gives the impression that the deduction applies to this year, since it's printed in this year.

        One client was all excited about it when i told him (he must not have read my annual letter).
        He went home, brought the bill of sale back same date showing auto purchased Feb 10th, 2009. Oh well.
        ChEAr$,
        Harlan Lunsford, EA n LA

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