JohnB5677
Expert Alumni

Retirement tax questions

The total cost for the vehicle is the sale price of the car.  In many cases it is the down payment plus "the loan" (provided the loan was only for the vehicle).  Interest on a car loan is not deductible on an individual tax return.  However, as @fanfare  stated, the sales tax may be if you itemize deductions.

 

@nickiru 

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