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New Member
posted Jun 3, 2019 10:53:51 AM

I Bought a boat & don't know where to show the tax?

0 4 1909
1 Best answer
Level 15
Jun 3, 2019 10:53:55 AM

SALES TAX

You can enter the sales tax you paid for the boat you purchased in 2017 by going to Federal>Deductions and Credits>Estimates and Other Taxes Paid> Sales Tax.  You will be asked if you paid sales tax on a major purchase, and you will be able to enter the sales tax you paid for your new vehicle. 

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

4 Replies
New Member
Jun 3, 2019 10:53:53 AM

I can't seem to find out how to get to talk with a person from Turbo tax.

Level 15
Jun 3, 2019 10:53:55 AM

SALES TAX

You can enter the sales tax you paid for the boat you purchased in 2017 by going to Federal>Deductions and Credits>Estimates and Other Taxes Paid> Sales Tax.  You will be asked if you paid sales tax on a major purchase, and you will be able to enter the sales tax you paid for your new vehicle. 

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

Intuit Alumni
Jun 3, 2019 10:53:58 AM

Edited 1/23/18

Do you mean the sales tax? It is under Deductions and Credits. Please see the screen shot below.

You can enter the sales tax you paid for the boat you purchased in 2017 by going to Federal>Deductions and Credits>Estimates and Other Taxes Paid> Sales Tax.  You will be asked if you paid sales tax on a major purchase, and you will be able to enter the sales tax you paid for your new vehicle. 

Common major purchases include:

  • Vehicles
  • Off-road vehicle

You can also include:

  • Aircraft
  • Boats
  • Mobile homes
  • Manufactured housing
  • Building materials for major home improvements

These items are not considered to be major purchases:

  • Furniture
  • Jewelry
  • Computers
  • Televisions or other electronic equipment
  • Items purchased for your business or rental property

Intuit Alumni
Jun 3, 2019 10:53:59 AM

Edited for instructions