Is the vehicle registration fee deductible? I live in New Mexico, which is not on the list of States with Deductible Vehicle Fees. I purchased a new car in 2023 and the registration fee paid was $1,304. There are 2 other vehicles that we own with the registration fees paid of $36.40 and $70.90. Please advise if I can deduct the total amount fees paid or only the portion of the fee based on vehicles value. If the latter applies, how is the value of the vehicle determined?
I received a Form 1099-G with an amount of $1,000 ($500 x2) rebate received from NM in 2023 but according to the form it applies to tax year 2021. Don't quite understand the rationale of why I have to report it as Income because I used federal Schedule A to itemize our deductions in 2021. Am I required to report it as income considering we did not receive a state refund in 2021 and paid $1,714 in taxes?
