can i get money back for buying a car this year? Am i able to claim it?

[vasquezkatelyn04]

I bought a car last year for sales price 9,998 and after all the taxes and fees it was like 20k. I put 4k down, can i claim the car as a big purchase and get more back?

[KrisD15]

If you itemize deductions, (use Schedule A) the sales tax on that purchase could be advantageous, but most people take the Standard Deduction. 

You can enter it and see if it makes a difference.

Deductions & Credits

Estimates and Other Taxes Paid

Sales Tax    START

[xmasbaby0]

Sales tax is an itemized deduction.   If you will not have enough other itemized deductions like mortgage interest, medical expenses, charity donations, etc. to exceed your standard deduction,  entering sales tax on a car will have no effect on your tax due or refund.

The standard deduction makes some of your income “tax free.”  It is not a refund.  You will see your standard or itemized deduction amount on line 12 of your 2024 Form 1040.

2024 STANDARD DEDUCTION AMOUNTS

SINGLE $14,600    (65 or older/legally blind + $1950)

MARRIED FILING SEPARATELY            $14,600    (65 or older/legally blind + $1550)

MARRIED FILING JOINTLY $29,200    (65 or older/legally blind + $1550)

HEAD OF HOUSEHOLD $21,900    (65 or older/legally blind + $1950)