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riley01414-
New Member

Can I use the purchase of a new vehicle as a deduction for 2018 taxes

I live in Georgia 

1 Best answer

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Vanessa
Level 3

Can I use the purchase of a new vehicle as a deduction for 2018 taxes

You can deduct the sales tax paid if you are itemizing your return.  

If it is a vehicle used for self-employment, you deduct the business use portion of interest on your business return.

Otherwise, there is no tax benefit to purchasing a new vehicle.

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1 Reply
Vanessa
Level 3

Can I use the purchase of a new vehicle as a deduction for 2018 taxes

You can deduct the sales tax paid if you are itemizing your return.  

If it is a vehicle used for self-employment, you deduct the business use portion of interest on your business return.

Otherwise, there is no tax benefit to purchasing a new vehicle.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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