Sales tax again...

BOB W

Senior Member

Join Date: Jun 2005

Posts: 4028
#1

Sales tax again...

03-13-2006, 03:58 PM

... I have a client in TX that built a home in 2005. In the past, I think last year, there was talk on this board about sales tax on new construction being deductible. My research has only found that additions to a home could allow sales tax to be deducted.

Does anyone know if new home construction is allowed. I would use 40% of the purchase price as materials if it is allowed, and the resulting sales tax thereon......

This post is for discussion purposes only and should be verified with other sources before actual use.

Many times I post additional info on the post, Click on "message board" for updated content.
Tags: None
BOB W

Senior Member

Join Date: Jun 2005

Posts: 4028
#2

03-13-2006, 04:08 PM

Never mind.....

I didn't read far enough... In order to get the deduction on a new home the t/p needs to purchase the materials directly or have a signed agreement with the contractor that he is acting as the t/p agent.

This post is for discussion purposes only and should be verified with other sources before actual use.

Many times I post additional info on the post, Click on "message board" for updated content.
Comment

Announcement