Virginia Property Tax

[jawadahmadi]

I paid $800 in Vehicle Property Tax in the state of Virginia. Any idea how much credit I would be getting on my return?

Thanks

[PattiF · Accepted solution]

It depends, if you have no other itemized deductions to use such as medical expenses, mortgage interest or property tax, entering this will not give you a tax break. If you do have those other deductions, this will add to the total itemized deductions.

The Vehicle Property Tax is entered into the Deductions and Credits section of TurboTax. The $800, on Line 5c, is added to other deductions in the Taxes you pay section that includes state and local taxes sales tax and real estate taxes. There is a cap on this of $10,000 for a married filing joint return. All deductions are entered in Schedule A.

The total of itemized deductions is compared to the standard deduction to see which is better to reduce your taxable income. Most taxpayers should go with the standard deduction since their itemized deductions are usually less than the standard deduction.

• Standard deduction

1. Single or married filing separately, $12,550
2. Married filing jointly or qualified widower $25,100
3. Head of household $18,800

[Edited 03/08/22|4:39 AM PST]

@jawadahmadi