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I bought a car in 2019 for $7,200, is this a deductible expense?

 
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2 Replies
rjs
Level 15
Level 15

I bought a car in 2019 for $7,200, is this a deductible expense?

If you bought the car for personal use it is not deductible.


If (a) you paid sales tax on the car, and (b) you itemize deductions, and (c) you deduct sales tax instead of state income tax, you can add the sales tax on the car to the amount from the IRS sales tax tables.

 

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Anonymous
Not applicable

I bought a car in 2019 for $7,200, is this a deductible expense?

if you bought the car for business purpose, you are subject to the limitations of 280F

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