Yes, you can potentially get a tax deduction if you bought a new car, depending on a few factors:
In addition to sales tax, as noted by Xmasbaby0, you may be able to receive tax deductions for the following:
- Business Use: If you use the car for business purposes, you might be able to deduct expenses related to the car, such as depreciation, fuel, and maintenance, under Section 179 of the U.S. tax code. You can learn more about deducting business expenses from the IRS here.
- Electric Vehicle Credit: If you purchased an electric vehicle, you might be eligible for a federal tax credit, which can significantly reduce your tax bill. More information on the electric vehicle tax credit can be found on the IRS website here.
