Yes you are allowed to deduct personal property taxes on your federal income tax return as long as these taxes are based on the value of the item being taxed.
Also, you will only
get this deduction if you itemized your deductions on Schedule A. If you take the
itemized deductions, you will not be able to take the standard
deduction. You can't take both so the TurboTax program will choose the
one that lowers your overall tax liability
To enter your
personal property taxes in TurboTax Online or Desktop, please follow these
steps:
- Once you are in your tax
return, click on the “Federal Taxes” tab ("Personal" tab in
TurboTax Home & Business)
- Next click on “Deductions
& Credits” ("Personal Income" in TurboTax Home &
Business)
- Next click on "jump to
full list" or “I’ll choose what I work on”
- Scroll down the screen until
to come to the section “Cars and other things I own”
- Choose "show more",
then personal property taxes and follow the onscreen instructions
