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miguelallie01
New Member

I cosigned for a car loan last year (my son). I am on the paperwork as a secondary buyer. Can I claim the taxes on this purchase?

 
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CarolynM
Level 1

I cosigned for a car loan last year (my son). I am on the paperwork as a secondary buyer. Can I claim the taxes on this purchase?

Unfortunately, you can't take the deduction unless you paid the taxes.

Being the co-signer makes you eligible to claim deductions for the sales tax because you are co-owner and legal liable for the debt, but unless you actually paid the tax, you are not eligible for the tax deduction. 

For more information on the sales tax deduction for a major item, follow this link: Major Item 

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1 Reply
CarolynM
Level 1

I cosigned for a car loan last year (my son). I am on the paperwork as a secondary buyer. Can I claim the taxes on this purchase?

Unfortunately, you can't take the deduction unless you paid the taxes.

Being the co-signer makes you eligible to claim deductions for the sales tax because you are co-owner and legal liable for the debt, but unless you actually paid the tax, you are not eligible for the tax deduction. 

For more information on the sales tax deduction for a major item, follow this link: Major Item 

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