In what section do i enter personal property tax paid on car

lmnapier86 — Wed, 05 Jun 2019 02:20:21 GMT

It depends. If these personal property taxes are a separ...

DS30 — Wed, 05 Jun 2019 02:20:26 GMT

It depends.

If these personal property taxes are a separate state/local tax imposed annually on the value of your car in addition to your car registration fee or this is another type of personal vehicle (ie: RV, boat), you will enter these in personal property taxes section

To enter your personal property taxes in TurboTax Online or Desktop, please follow these steps:

Once you are in your tax return, click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
Next click on “Deductions and credits”
Next click on "jump to full list" or “I’ll choose what I work on”
Scroll down the screen until to come to the section “Cars and Other Things You Own”
Choose "show more", then Personal Property Taxes and follow the onscreen instructions

If you pay these taxes when you register your car, you will enter them under the car registration fee section. The total amount of your registration fee is not deductible, just the portion that the state charged you for taxes based on the value of your vehicle. This does not include the yearly tag fees but only the Ad Valorem Tax which is a deductible tax added to the tag fee. Please check this link to see if Is your Car Registration Deductible?

For Example, your annual car registration fee is based on a formula that charges $2 per 100 pounds of vehicle weight, $1 per $1,000 of value, a flat $10 for license plate tabs, and $35 in other taxes and charges. If you had a 4,200-pound vehicle with a value estimated by the state at $25,000, then your fee would be $154 ($84 plus $25 plus $10 plus $35). Of that, only $25 would be an itemized deduction, because that's the only portion based on the actual value of the vehicle.

To enter your car registration fees in TurboTax Online (for TurboTax Online sign-in, click Here) or Desktop, please follow these steps:

Once you are in your tax return, click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
Next click on “Deductions & Credits”
Next click on "jump to full list" or “I’ll choose what I work on” (You may get the car registration fee screen here - see screenshot)
Scroll down the screen until to come to the section “Cars and other things I own”
Choose "show more", then car registration fees and follow the onscreen instructions Please note that you would only be able to claim these deductions if you itemize so if this is your only itemized deductions, you will want to just take the standard deduction.

topic In what section do i enter personal property tax paid on car in Deductions & credits

In what section do i enter personal property tax paid on car

It depends. If these personal property taxes are a separ...