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Deductions & credits
Yes you can claim a TN sales tax deduction on your federal income tax return if you are itemizing your deductions.
No you cannot claim a loss related to a personal use capital asset (your personal use car) on your income tax return.
To enter your TN sales tax deduction in TurboTax, log into your tax return (for TurboTax Online sign-in, click Here and click on "Take me to my return") type "Sales Tax Deduction" in the search bar then select "jump to Sales Tax Deduction". TurboTax will guide you in entering this information.
Alternatively, to enter your sales taxes and major purchases in TurboTax Online or Desktop, please follow these steps:
- Once you are in your tax return, click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
- Next click on “Deductions & Credits”
- Next click on "jump to full list" or “I’ll choose what I work on”
- Scroll down the screen until to come to the section “Estimates and Other Taxes Paid ”
- Choose "show more", then Sales Tax (start/update/revisit)
- Choose - continue to sales tax and choose "Easy Guide"
You
can use this helpful state sales tax calculator link : http://www.taxrates.com/calculator/
May 31, 2019
10:06 PM