No, a down payment for purchasing a car isn't deductible. However, some other deductions related to the car that might be include:
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Registration fees if based on the value of the vehicle (the software lists the states that qualify - click more info links on the entry screen), under the itemized deduction
- If you paid sales tax on the vehicle, you can check if it would be beneficial for the itemized deductions
- If you use the vehicle for business driving, then you can take a deduction for the mileage you drive
All of the itemized deductions are listed under federal taxes >> deductions & credits. Business deductions are entered within your self-employed work.
