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hbes3
New Member

I sold my old car and bought a new one. How do I work on my taxes and include these things?

 
2 Replies
RichardG
New Member

I sold my old car and bought a new one. How do I work on my taxes and include these things?

Unless you sold your old car for more than you paid for it, there's nothing to report for the sale.  

As for the new car, be sure and go through the interview for sales tax and include the amount of sales tax you paid on the vehicle.  If you live in a state with no income tax or your state income taxes for the year are low, you could receive an income tax deduction for sales taxes paid in 2016.  Go to Personal>Deductions & Credits>Estimates and Other Taxes Paid>Sales Tax.

Also, if you paid personal property taxes on these vehicles, be sure to enter that in TurboTax under Cars and Other things You Own.

jlynch12940
New Member

I sold my old car and bought a new one. How do I work on my taxes and include these things?

Thank you.  That info helped.

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