topic Can I deduct the registration fee for a boat while living in South Carolina? Also, are the property taxes paid on the boat and jet skis deductible? in Deductions & credits

Can I deduct the registration fee for a boat while living in South Carolina? Also, are the property taxes paid on the boat and jet skis deductible?

Cruzesa — Sat, 26 Dec 2020 16:43:25 GMT

Under the "Cars and other things you own", there's no specific line for "other things" I own. Where would I enter if in fact they are deductible?

Re: Can I deduct the registration fee for a boat while living in South Carolina? Also, are the property taxes paid on the boat and jet skis deductible?

Critter-3 — Sat, 26 Dec 2020 16:45:37 GMT

As long as the personal property tax is based on the value of the vehicle, then it would be deductible on your return.

Currently only the following states charge a fee based on the vehicle value:

Alabama

Arizona

Arkansas

California

Colorado

Iowa

Indiana

Kentucky

Louisiana

Massachusetts

Michigan

Minnesota

Mississippi

Missouri

Montana

Nebraska

Nevada

New Hampshire

South Carolina

Washington

Wyoming

Re: Can I deduct the registration fee for a boat while living in South Carolina? Also, are the property taxes paid on the boat and jet skis deductible?

DoninGA — Sat, 26 Dec 2020 16:51:32 GMT

Click on the ? mark next to Personal Property Taxes to learn more about the deduction.

Re: Can I deduct the registration fee for a boat while living in South Carolina? Also, are the property taxes paid on the boat and jet skis deductible?

SteamTrain — Sat, 26 Dec 2020 18:30:12 GMT

@Critter-3

...add North Carolina after New Hampshire.

...at one time, TTX didn't include NC in their list...even though the vehicle property tax did exist. I think because they didn't se it was a separate county-charged bill, but they've long since added it to the regular DMV registration billing

________________

Example:

Re: Can I deduct the registration fee for a boat while living in South Carolina? Also, are the property taxes paid on the boat and jet skis deductible?

Cruzesa — Fri, 01 Jan 2021 15:37:05 GMT

Thank you, but my question was related to SC not NC.

Re: Can I deduct the registration fee for a boat while living in South Carolina? Also, are the property taxes paid on the boat and jet skis deductible?

SteamTrain — Fri, 01 Jan 2021 15:50:55 GMT

@Cruzesa

......that post was to update Critter's list.

Unlikely that anyone from SC will see this,

..............but IF you have a SC boat/Jet ski registration or tax bill that shows that part of it is a tax based on the current value of the boat or jet ski, then it is a property tax that can be entered as a potential deduction.

Flat yearly registration fees are not property taxes...note in the NC example I showed anyhow.....how the bill shows a tax rate per $100 valuation ? That is a property tax.

(the billing itself mis-labels the city flat fee as a property tax, and that part is NOT)

You need to look at your own billing to see what's in it.

Re: Can I deduct the registration fee for a boat while living in South Carolina? Also, are the property taxes paid on the boat and jet skis deductible?

Cruzesa — Sun, 17 Jan 2021 19:44:52 GMT

Thanks for the response. In SC, they separate the registration fees from the property tax. So my question is related specifically to the registration fee for a boat - not the property tax paid on the boat. The registration fee is a flat fee, not based on the boat's value whereas the property tax amount is based on the boat's value. Can the registration fee for the boat be deducted?

Re: Can I deduct the registration fee for a boat while living in South Carolina? Also, are the property taxes paid on the boat and jet skis deductible?

SteamTrain — Sun, 17 Jan 2021 19:57:13 GMT

@Cruzesa

No...that separate registration fee cannot be used as a deduction.