Possibly two
deductions are available to you if you itemize your deductions.
The registration fee tax
deduction varies from state to state, so always check with your
state's DMV website to determine how they calculate their tax. The total amount
of your registration fee is not deductible, just the portion that the state
charged you for taxes based on the value of your vehicle. To
navigate to the section:
- In your open return, select My Account
- Tools
- Topic Search
- Type 'car registration fees' in
the box, then select GO
Sales Tax:
You have the option of claiming
either general state/local sales taxes or state/local income
tax. In states that have a state income tax, it is generally more advantages to
take the income tax deduction. Because you had a big purchase, you might want
to figure it both ways. TurboTax will take the bigger deduction for you.
- In your open return, select My Account
- Tools
- Topic Search
- Type 'sales tax' in the box,
then select GO
See links below.
https://www.fhwa.dot.gov/ohim/hwytaxes/2001/pt11.htm
https://ttlc.intuit.com/questions/1901222-which-deduction-should-i-choose-sales-tax-or-income-tax
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