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Level 2
June 5, 2019
Solved

Where is new sales tax deducted for a business only vehicle?

  • June 5, 2019
  • 1 reply
  • 8 views
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Best answer by LindaA

Include the sales tax in the cost basis of the business vehicle. The cost is recovered over time through depreciation.

For more information, please see IRS Pub 463, Travel, Entertainment, Gift, and Car Expenses.

1 reply

LindaAAnswer
Level 10
June 5, 2019

Include the sales tax in the cost basis of the business vehicle. The cost is recovered over time through depreciation.

For more information, please see IRS Pub 463, Travel, Entertainment, Gift, and Car Expenses.