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jilldews1
New Member

I purchased a trailer in 2016, taxible value $3661. Colorado trailers require plates and registration... the fee was $527.29. Is this deductable?

I believe Colorado refers to it as ownership tax.

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1 Best answer

Accepted Solutions
MargaretL
Expert Alumni

I purchased a trailer in 2016, taxible value $3661. Colorado trailers require plates and registration... the fee was $527.29. Is this deductable?

Yes, it is deductible and yes - Colorado does call it "own tax" on their registration card.

Here's data entry:

  1. Federal Taxes
  2. Deductions Credits
  3. Car and Other Things You Own
  4. Car Registration Fees - enter "own tax"

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3 Replies
shvasha
New Member

I purchased a trailer in 2016, taxible value $3661. Colorado trailers require plates and registration... the fee was $527.29. Is this deductable?

I purchased a horse trailer in 2017.  Again I paid an ownership tax as well as state and county taxes.  What is deductible here, and do i still put this under "Car Registration Fees"
MargaretL
Expert Alumni

I purchased a trailer in 2016, taxible value $3661. Colorado trailers require plates and registration... the fee was $527.29. Is this deductable?

Yes, it is deductible and yes - Colorado does call it "own tax" on their registration card.

Here's data entry:

  1. Federal Taxes
  2. Deductions Credits
  3. Car and Other Things You Own
  4. Car Registration Fees - enter "own tax"

I purchased a trailer in 2016, taxible value $3661. Colorado trailers require plates and registration... the fee was $527.29. Is this deductable?

TurboTaxMargaretL’s answer appears to be out of date. “Own Tax” is no longer (as of 2016 receipts) itemized, either on the front or back of the Colorad Registration/Ownership Tax Receipt.
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