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I leased my car in 2016. Can I deduct tax amount in my leased car monthly payments in 2018?
In 2018 I paid $88.91 every month as a part of my car lease payments. Basically I have my monthly leased car payment broken down into two parts: 'Base payment' and 'Tax payment' (as I see it in the online banking system). Tax payment is $88.91, every month.
Can I deduct these tax payments? I live in WA and I am going with federal itemized deductions (as suggested by TurboTax).
Lease inception was at the end of 2016. This question is not about tax deduction at lease signing.
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‎June 3, 2019
11:00 AM