turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

NAV17
New Member

Vehicle Ownership Tax Deduction - Turbotax Glitch?

Vehicle Ownership Tax - For 2019 EVEN WITH with standard deduction, Turbotax added this additional deduction and refund changed accordingly.  For 2020, calculation is NOT factoring in the ownership tax.   Did IRS and Colo State change this tax regulation for 2020 or is there a Turbotax glitch?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
gloriah5200
Expert Alumni

Vehicle Ownership Tax Deduction - Turbotax Glitch?

2020 individual income tax do allow a charity contribution of $300 cash deduction available in addition to the standard deduction for 2020 due to the CARES Act, but it has to be cash, not fmv of a vehicle

 

Please double check your entries to check to see if you entered a $300 cash charity contribution and that may be where the deduction is coming from unless you entered it incorrectly as cash instead of a fmv auto donated to charity, which is not allowed with the standard deduction.

NAV17
New Member

Vehicle Ownership Tax Deduction - Turbotax Glitch?

Thanks for the reply, but it doesn't answer my question.  The deduction for vehicle registration fees which are directly related to the vehicle's value is a separate issue (and entry on the tax return) from any charitable donations one may make.  I didn't donate a vehicle in 2020.  For the 2019 return Turbotax allowed a deduction for a vehicle ownership tax IN ADDITION TO the standard deduction.  For the 2020 return it is not.  My question is has the tax law changed for 2020 or does Turbotax have a glitch in its software?

PattiF
Expert Alumni

Vehicle Ownership Tax Deduction - Turbotax Glitch?

The instructions for entering the vehicle registration fees for Line 5c are found on page A-7 in the 2020 instructions, and on page A-8 in the 2019 instructions. They are the same.

 

 

2020 Instructions for Schedule A  2019 Instructions for Schedule A

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies