Deductions & credits

  • Sales tax is a one-time tax, which is collected at the point of sale when you shop at department stores, grocery stores, or online, etc...
  • Personal property tax is an annual tax, which is based on the current value of the property each year such as taxes you paid on the value of personal property, including a boat, motorcycle, RV, or airplane, but not your home or any real estate you own (These go under the Real Estate Tax topic on Turbotax program)