personal property tax on leased vehicle?

[Possi]

Is personal property tax on a long-term leased vehicle deductible? It is broken out for the client.

[ChEAr$]

Is personal property tax on a long-term leased vehicle deductible? It is broken out for the client.

Here's an analogy in form of a qustion. If you live in a house owned by your mother and you pay the annual property tax, can you deduct it? (grin

[Possi]

I should not second guess

I shouldn't second guess myself. My client came in with the lease information and the personal property tax clearly documented as if they took that deduction all the time. I never saw it documented like that before and suddenly doubted myself. I'm a schmuck... a tired schmuck. thanks for putting up with me...

[Burke]

Personal property taxes on a leased vehicle are deductible if the TP is required to pay them. That is probably why they are broken out separately. In VA, they qualify for tax relief if that is the case.

[Possi]

Ah HA

Thanks for the clarification~ I feel better....

[taxea]

Is personal property tax on a long-term leased vehicle deductible? It is broken out for the client.

that is a state issue and some states do allow a portion of the registration as deductible. I know CA does and HI doesn't.