I paid $20005. for late property taxes and penalties. I also paid $12580.58 for a repossessed car. Where do I show that information?

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I paid $20005. for late property taxes and penalties. I also paid $12580.58 for a repossessed car. Where do I show that information?

The property taxes are a Sch A Itemized deduction and will be entered under:

Federal Taxes

Deductions and Credits

under "Your Home"

Note: for 2018 tax year State and Local Taxes (SALT) are limited to $10,000 under the new tax law.

You will enter the entire amount paid (except for the penalties and interest) and TurboTax will limit them to was is allowed.

The car does not get entered in TurboTax unless you are taking the Sales tax deduction versus the income tax deduction.

For more details on the new tax law see below and click on SALT.

https://ttlc.intuit.com/replies/6971774

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I paid $20005. for late property taxes and penalties. I also paid $12580.58 for a repossessed car. Where do I show that information?

Property taxes on personal residence? Car purchased personal car?

I paid $20005. for late property taxes and penalties. I also paid $12580.58 for a repossessed car. Where do I show that information?

Yes, property taxes are on my personal residence. Car was a personal vehicle.

I paid $20005. for late property taxes and penalties. I also paid $12580.58 for a repossessed car. Where do I show that information?

Yes, property taxes are on my personal residence and car was my personal car.l

I paid $20005. for late property taxes and penalties. I also paid $12580.58 for a repossessed car. Where do I show that information?

Yes, property taxes are on my personal residence and car purchase was my personal car.

I paid $20005. for late property taxes and penalties. I also paid $12580.58 for a repossessed car. Where do I show that information?

The property taxes are a Sch A Itemized deduction and will be entered under:

Federal Taxes

Deductions and Credits

under "Your Home"

Note: for 2018 tax year State and Local Taxes (SALT) are limited to $10,000 under the new tax law.

You will enter the entire amount paid (except for the penalties and interest) and TurboTax will limit them to was is allowed.

The car does not get entered in TurboTax unless you are taking the Sales tax deduction versus the income tax deduction.

For more details on the new tax law see below and click on SALT.

https://ttlc.intuit.com/replies/6971774

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