https://ttlc.intuit.com/community/taxes/discussion/car-purchase/01/819774#M323406 <P>Hello,</P><P>I purchased a used Car last year for $5.5K. I gave a cheque to the owner of the car and paid around 400-450 for registration. Was this taxable event ? I did not add anything related to this in my taxes. Do i need to amend anything. My main concern is not getting any tax deductions or money back. But I should not owe anything to IRS.</P> Tue, 25 Jun 2019 17:46:08 GMT yashK1 2019-06-25T17:46:08Z https://ttlc.intuit.com/community/taxes/discussion/car-purchase/01/819774#M323406 <P>Hello,</P><P>I purchased a used Car last year for $5.5K. I gave a cheque to the owner of the car and paid around 400-450 for registration. Was this taxable event ? I did not add anything related to this in my taxes. Do i need to amend anything. My main concern is not getting any tax deductions or money back. But I should not owe anything to IRS.</P> Tue, 25 Jun 2019 17:46:08 GMT https://ttlc.intuit.com/community/taxes/discussion/car-purchase/01/819774#M323406 yashK1 2019-06-25T17:46:08Z https://ttlc.intuit.com/community/taxes/discussion/re-car-purchase/01/819780#M323408 <P>The purchase of a personal vehicle, not used in a business, is not a taxable event nor reported on a tax return.</P><P>&nbsp;</P><P>If your state requires that you pay a personal property tax for the vehicle (ad valorem) based on the value of the vehicle, that personal property tax would be deductible as an itemized deduction on Schedule A.&nbsp; However, the total of all itemized deductions would have to be greater than the standard deduction for your filing status to have any tax benefit.</P> Tue, 25 Jun 2019 17:50:58 GMT https://ttlc.intuit.com/community/taxes/discussion/re-car-purchase/01/819780#M323408 DoninGA 2019-06-25T17:50:58Z