toric2014
Returning Member

Deduction: Major purchase

I need advise on how to fill in the Cost Excluding Tax, Sales Tax Paid, and Sales Tax Percent boxes? Purchase price of new car $39,752.43 which includes purchase price and warranties, I made a $13,000 down payment for a total financed $26,752.43. I made a private sale on my prior vehicle of $9,250, instead of trading in- this was applied as a tax credit which acted as a trade in allowance when paying sales tax. Total tax paid $2063.91.