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I lease an Audi vehicle. In 2017, Audi Financial Services paid the personal property tax, however, in 2018 they billed me for it and I paid it. Can I claim this expense?
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I lease an Audi vehicle. In 2017, Audi Financial Services paid the personal property tax, however, in 2018 they billed me for it and I paid it. Can I claim this expense?
Yes, you can claim Personal Property Tax you paid. However, this is an Itemized Deduction, so with the increased Standard Deduction for 2018, it may not benefit you on your Federal return.
Your State may give you a deduction for it, though, so you should enter it in TurboTax.
Here's how to enter your Personal Property Tax:
https://ttlc.intuit.com/replies/6114768
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I lease an Audi vehicle. In 2017, Audi Financial Services paid the personal property tax, however, in 2018 they billed me for it and I paid it. Can I claim this expense?
Yes, you can claim Personal Property Tax you paid. However, this is an Itemized Deduction, so with the increased Standard Deduction for 2018, it may not benefit you on your Federal return.
Your State may give you a deduction for it, though, so you should enter it in TurboTax.
Here's how to enter your Personal Property Tax:
https://ttlc.intuit.com/replies/6114768
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"