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The "person property tax paid" section says it does not in clude car registration fees, but does it include personal property taxs paid on a car or motorcycle?

 
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1 Reply
GeoffreyG
New Member

The "person property tax paid" section says it does not in clude car registration fees, but does it include personal property taxs paid on a car or motorcycle?

Depending on your state, yes, personal property taxes could cover a motorcycle, and could therefore be tax-deductible.

You can deduct state and local taxes that you pay for your personal property.  Personal property is defined as all property except real property (such as your home, vacation home, and rental property). The taxes must be assessed annually and must be based on the value of personal property you own.  Some examples of personal property items that are often taxed include vehicles (cars, trucks, and motorcycles), boats, recreational vehicles, aircraft, and mobile homes.

So, the answer to your question is a "qualified" yes; if you state charges you an annual personal property tax fee on your motorcycle, then you could include it the personal property taxes section in TurboTax.  Please note, however, that when doing so, a personal property tax is something different than a straightforward registration fee.  The personal property tax must be calculated based on the value of the property, and not simply a flat fee or charge (like a vehicle registration).

Thank you for asking this question.


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