Big Ticket Items

What is the name of your state? FL

This is a q regarding 'big ticket items'. When itemizing and deducting sales tax, one can either total all taxes if all receipts are saved, or one can choose to find a 'standard' deduction applicable to their situation on an IRS table.

My question is regarding the latter. Even when choosing to go with a 'standard' deduction such as mentioned above, there is the option of adding to that big ticket items (by filling in the sales tax on those items). I've googled around a bit to see what 'big ticket items' really entail, because what is a bit ticket item to one person, might not be to the other.

Anyways, most websites mentions boats, cars, major home improvements. I have seen a couple mention things like furniture also. Would stuff like furniture, major appliances, computers, etc. fall under 'big ticket items' that can be added on top of the amount given by the IRS table?

What other things are considered 'big ticket items'?

Thanks

Hummp, hummp (just clearing my throat), IT DEPENDS.

That's the only answer possible as there is no list. You have discovered that tax law is law and it's all in how you argue it. There are not answers for your questions, there are only informed opinions. And, since there is little case law and no codes or regulations on the matter, no one KNOWS. You would be suprised at how many things are like that. What is an ordinary and necessary business expense? Heck, what is income? It depends.

IRS Publication 600 does have a list. See page 4.

http://www.irs.gov/pub/irs-pdf/p600.pdf

Publication 600 (which I referenced in the thread which lead to this thread), has examples. The "list" is not exclusive. You can have a "big ticket item" even though it is not referenced in Publication 600.

Speaking of that publication... according to the tables, we are allowed to claim half of what the HR Block online software adds to our refund... I am assuming even HR Block uses these tables right??? Odd...

FLMommy said:

Speaking of that publication... according to the tables, we are allowed to claim half of what the HR Block online software adds to our refund... I am assuming even HR Block uses these tables right??? Odd...

Click to expand...

Yes, that's odd...and one of the problems with online software. Sometimes it produces a bad result, and if you don't understand both the software and tax in general, you may not realize that you are getting a bad result.

I can do a manual return, and then the same return on the software our practise uses, and get the same result....but then, I can try to duplicate the results using an online program, and I sometimes cannot duplicate the correct results.

Try using another online program and see what results you get. I personally like www.taxesanytime.com. They also have free live support (which is one of the reasons why I like them)

However, even people who regularly do their own taxes sometimes need to use a professional in a specific year.