Is new car Title Tax in Virginia tax deductible?

rajeevrr68 — Wed, 05 Jun 2019 23:21:14 GMT

I bought a new car from the dealer in 2018. Is the Title Tax deductible in my Tax returns ? Can I add this amount to car property tax that I claim in itemized deductions?

Yes, this is deductible. According to the Virginia DM...

JohnW15 — Wed, 05 Jun 2019 23:21:16 GMT

Yes, this is deductible.

According to the Virginia DMV's page Motor Vehicle Sales and Use Tax, the state's title transfer tax is 4.15%, and is based on either the vehicle's gross sales price or $75, whichever is greater.

Because this fee is based on the value of the vehicle, and not on some other factor, you're able to deduct it when you're itemizing.

topic Is new car Title Tax in Virginia tax deductible? in Deductions & credits

Is new car Title Tax in Virginia tax deductible?

Yes, this is deductible. According to the Virginia DM...