• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

sales tax

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.



Snipes5

Senior Member
It should be, based on the new "sales tax deduction" that is available.

You will have to itemize your deductions to take advantage of this benefit.

The IRS has not yet come out with their interpretation of the new law.

Stay tuned. When it does come out, the Publication number is 600. It will probably take them a few more months.

Snipes
 

abezon

Senior Member
Nope, it's out now, just in time for the holidays. Yea. On Schedule A, you can deduct EITHER your state & local income taxes OR your sales taxes. If you did not keep all receipts for 2004 (& who did?), you can use the tables in Pub. 600 to estimate how much sales tax you paid. You then add the sales taxes on major purchases like a car.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top