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We are building a home. Can sales tax for building materials, etc be deducted? If so, does each individual receipt need to be entered or can one summary entry suffice?
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June 1, 2019
9:53 AM
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Deductions & credits
Yes, sales tax for major purchases including building materials is allowed for sales tax deductions. You can add them together to enter as one entry. However, please do keep all receipts for records for any IRS future request.
Please also note that your refund will change only if your total sales tax deduction is more than the state income taxes and you are itemizing instead of taking the standard deduction.
June 1, 2019
9:53 AM