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samlilred
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Can I deduct sales tax if I do not own a home

 
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Can I deduct sales tax if I do not own a home

The sales tax deduction is not dependent on you being a homeowner.

To enter your sales taxes

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Deductions and Credits
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Estimates and Other Taxes Paid
  • On Sales Taxes, click the start or update button

Or enter sales tax in the Search box located in the upper right of the program screen.  Click on Jump to sales tax

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4 Replies

Can I deduct sales tax if I do not own a home

The option is State Income tax or State Sales tax which ever is greater ... it has nothing to do with RE taxes in 2017.

In 2018 however the total of all entries in that section of the Sch A will be capped at $10K.

Can I deduct sales tax if I do not own a home

The sales tax deduction is not dependent on you being a homeowner.

To enter your sales taxes

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Deductions and Credits
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Estimates and Other Taxes Paid
  • On Sales Taxes, click the start or update button

Or enter sales tax in the Search box located in the upper right of the program screen.  Click on Jump to sales tax

Can I deduct sales tax if I do not own a home

Owning a home has nothing to do with whether you can deduct sales tax.

SALES TAX

You can enter the sales tax you paid  in 2017 by going to Federal>Deductions and Credits>Estimates and Other Taxes Paid> Sales Tax.  

Sales tax is an itemized deduction.  If your state has a state income tax, you have to choose between using the deduction for your state tax paid OR the sales tax deduction, whichever is higher.  The TT process will suggest one or the other as you prepare your return.

“Major purchases” that you can enter for the sales tax deduction include:

Motor Vehicles (cars, trucks, motor homes, RV’s, sport utility vehicles and off-road vehicles

Aircraft or boats

Mobile homes

Manufactured housing

Building materials for major home improvements

You cannot deduct: furniture, jewelry, home electronics such as TV’s or computers

https://ttlc.intuit.com/questions/1901222-which-deduction-should-i-choose-sales-tax-or-income-tax

https://ttlc.intuit.com/questions/2566624-how-much-sales-tax-did-i-pay-last-year

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Can I deduct sales tax if I do not own a home

But you must have enough total itemized deductions to exceed the Standard deduction.
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