Yes.
The Internal Revenue Service (IRS) permits you to write off either your state and local income tax or sales taxes when itemizing your deductions. People who live in a state that does not impose income taxes often benefit most from this deduction. However, you might also be better off deducting sales taxes instead of income taxes if you make large purchases during the year and your total sales tax payments exceed those for state income tax. You can use either the actual sales taxes you paid or the IRS optional sales tax tables.
If you’re taking the sales tax deduction, here’s how to enter the sales tax you paid:
If you can’t reach it through the “Jump to” link, go to Deductions & Credits and choose what you work on. Then go to Estimates and Other Taxes Paid. You’ll see Sales Tax in that list of topics.
Yes.
The Internal Revenue Service (IRS) permits you to write off either your state and local income tax or sales taxes when itemizing your deductions. People who live in a state that does not impose income taxes often benefit most from this deduction. However, you might also be better off deducting sales taxes instead of income taxes if you make large purchases during the year and your total sales tax payments exceed those for state income tax. You can use either the actual sales taxes you paid or the IRS optional sales tax tables.
If you’re taking the sales tax deduction, here’s how to enter the sales tax you paid:
If you can’t reach it through the “Jump to” link, go to Deductions & Credits and choose what you work on. Then go to Estimates and Other Taxes Paid. You’ll see Sales Tax in that list of topics.