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brent_cochran
Level 2
October 14, 2022
Question

Can I reduce sales tax from a new car purchase if I don't trade in a car, but sell it later myself?

  • October 14, 2022
  • 1 reply
  • 1 view
I was reading this is possible but I don't know what form to file.  Essentially, this is doing what a car dealer would do when you trade in so you only owe sales tax on the total delta of the trade in vs. new car price.  ex: buy car for 50K, sell 'replaced car' for 20k privately, only pay sales tax on 30k.

1 reply

X
Level 15
xmasbaby0Level 15
Level 15
October 14, 2022

We are answering questions about income tax or about how to use the TurboTax software to prepare income tax returns.   Your question is not an income tax question.   You are asking about sales tax which is a question you need to ask in your own state.

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
B
brent_cochranAuthor
Level 2
October 14, 2022

Thanks for clarifying.  Any idea who I might reach out to with that question?  As a long time TT user, I don't have 'a tax guy' I can ping!  🙂

X
Level 15
xmasbaby0Level 15
Level 15
October 14, 2022

https://ttlc.intuit.com/community/state-taxes/help/how-do-i-contact-my-state-department-of-revenue/00/25573

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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