topic I bought a car in 2019 for $7,200, is this a deductible expense? in Deductions & credits

I bought a car in 2019 for $7,200, is this a deductible expense?

x-williams — Fri, 10 Jan 2020 03:25:50 GMT

Re: I bought a car in 2019 for $7,200, is this a deductible expense?

rjs — Fri, 10 Jan 2020 03:40:52 GMT

If you bought the car for personal use it is not deductible.

If (a) you paid sales tax on the car, and (b) you itemize deductions, and (c) you deduct sales tax instead of state income tax, you can add the sales tax on the car to the amount from the IRS sales tax tables.

You indicated that you are using TurboTax Live. If you have more tax questions, you should ask a TurboTax Live tax expert.

Re: I bought a car in 2019 for $7,200, is this a deductible expense?

Anonymous — Fri, 10 Jan 2020 07:56:16 GMT

if you bought the car for business purpose, you are subject to the limitations of 280F