Sice I purchased a new car in 2020 I woul like to know if I can claim all of the items mentioned below in my federal tax return. My itemized statement includes the following:
Tax Breakdown
STATE VEH TAX
STATE BUS TAX*
ST ESC/GAP/AFT**
LOCAL VEH TAX
LCL ESC/GAP/AFT**
GEN VEH TAX
BUS VEH TAX
BUS/ESC/GAP/AFT**
* I think Bus means business
** Have no idea what these items are.
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If you itemize, you would be able to deduct your SALES tax if you use the sales tax in lieu of the state income tax. Also, if any of the taxes are personal property taxes, you could include those. Your list does not identify Sales or Ad Valorem taxes specifically. You can call the dealer for clarification.
If you itemize, you would be able to deduct your SALES tax if you use the sales tax in lieu of the state income tax. Also, if any of the taxes are personal property taxes, you could include those. Your list does not identify Sales or Ad Valorem taxes specifically. You can call the dealer for clarification.
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