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I bought a truck in 2016. Why does that not increase my return?
I figured my sales tax with and without the 3K I spent in taxes on my new truck. It ended up giving me about $300 more to not claim the truck sales tax.
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posted
June 4, 2019
4:19 PM
last updated
June 04, 2019
4:19 PM
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I bought a truck in 2016. Why does that not increase my return?
State taxes paid OR state sales taxes paid are part of itemized deductions.
You get to deduct one or the other, not both.
Sounds like your state taxes paid are higher than the state sales taxes paid, which is why you get a better outcome when you don't use the state sales tax paid.
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
June 4, 2019
4:19 PM
1 Reply
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I bought a truck in 2016. Why does that not increase my return?
State taxes paid OR state sales taxes paid are part of itemized deductions.
You get to deduct one or the other, not both.
Sounds like your state taxes paid are higher than the state sales taxes paid, which is why you get a better outcome when you don't use the state sales tax paid.
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
June 4, 2019
4:19 PM
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