I purchased a car last year in march i believe. I was told i can claim the interest or taxes. Is that possible if so, if for interest; only last year or all of it.

[biankarae09]

And can i claim the down payment? and can the co-signer also claim or just one person.

[xmasbaby0 · Accepted solution]

SALES TAX

You can enter the sales tax you paid for the car you purchased in 2016 by going to Federal>Deductions and Credits>Estimates and Other Taxes Paid> Sales Tax.  You will be asked if you paid sales tax on a major purchase, and you will be able to enter the sales tax you paid for your new vehicle. 

Sales tax is an itemized deduction.  If your state has a state income tax, you have to choose between using the deduction for your state tax paid OR the sales tax deduction, whichever is higher.  The TT process will suggest one or the other as you prepare your return.