Yes, anything you purchased in 2024 that is eligible for any type of credit or deduction would be included on your 2024 return, not your 2023 return that we are filing now.
However, cars are not in general deductible. The times when you get any tax breaks for a vehicle are
- When you buy an eligible new or used EV and are eligible for the Clean Vehicle Credit
- When the vehicle is used for business, you can then enter your expenses, depreciate or take a mileage deduction.
- You are itemizing your return and claiming the sale tax you paid as a deduction.
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