topic Re: Tax return in Get your taxes done using TurboTax

Tax return

Jessica0414 — Tue, 18 Feb 2020 18:37:14 GMT

I recently submitted my tax returns, somebody told me I can include what I paid for a car that I brought last year. Is that true if it can I ammend my tax return

Re: Tax return

LinaJ2020 — Tue, 18 Feb 2020 19:04:31 GMT

It depends. You only need to amend if adding the expenses you paid for your car will change your total refund or tax due.

Here is the explanation:

By purchasing a car would give you an opportunity to possibly deduct the car registration fees, sales tax, and personal property taxes if you pay them. You cannot deduct the cost you paid for the car though.

However, these are all allowable deductions on your Schedule A. You can benefit them only if you have enough to itemize. You would benefit from those abovementioned three taxes only if the totals along with other itemized items, if there are any, on the Schedule A, are more than your standard deduction amount (click here to check standard deduction amount). Also be aware that, with the Tax Cuts and Job Acts TCJA, there is a limitation of $10,000 so-called the SALT applied (State and Local Taxes ). For more information, see SALT. Instead of allowing all the paid state and local taxes including sales tax and property taxes for deductions, Congress imposes a cap in the calculation. Therefore, if your total SALT exceeds $10,000, you can only use 10,000 in calculating your total itemized deduction amount.

In conclusion, if you have enough to itemize including those vehicle-related taxes on Schedule A, you should amend to re-claim an additional refund. If you do not have enough to itemize, you do not amend.

Re: Tax return

Thomp2 — Tue, 18 Feb 2020 20:39:41 GMT

I what to know how much I'm getting back

Re: Tax return

JeanneLO — Wed, 19 Feb 2020 16:33:58 GMT

To view the amount due to you (refund) when you submitted your tax returns please follow these steps:

Open your return if it's not already open.
On the Tax Home screen, scroll down and select Add a State (don't worry, we're not adding a state) to access your tax forms and worksheets.
In the left menu, select Tax Tools then Print Center.
On the TurboTax Print Center screen, select Print, save or preview this year's return.
On the next TurboTax Print Center screen, select 2019 federal returns and Include Government and TurboTax Worksheets (optional), then select View or Print Forms.
The information will be on the first page, Electronic Filing Instructions for your 2019 Federal Tax Return next to Balance Due/Refund.
You can view the state refund information on the State Electronic Filing instructions.

If you have not filed your tax return your projected refund is displayed at the top of the TurboTax screens as you enter information.