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wohalirke
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Is taxes paid for the purchase of an RV considered personal property tax?

 
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MarcC
New Member

Is taxes paid for the purchase of an RV considered personal property tax?

No, it is not considered personal property tax. However, it is considered sales tax and is deductible.

You can enter the sales tax you paid for the RV 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 RV. 

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.

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1 Reply
MarcC
New Member

Is taxes paid for the purchase of an RV considered personal property tax?

No, it is not considered personal property tax. However, it is considered sales tax and is deductible.

You can enter the sales tax you paid for the RV 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 RV. 

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.

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