What qualifies as "Major Purchase" for Sales Tax Deduction?

[Kcseb234]

I paid. 32,894 house off how much of that can I get back next year

[tagteam]

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@Kcseb234  wrote:

I paid. 32,894 house off how much of that can I get back next year

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What did you pay, exactly? If you paid off your mortgage balance, that is a non-factor in your federal income tax liability calculation (you will not "get anything back" for doing so).

[xmasbaby0]

@Kcseb234  And....oddly.....you posted your question to a thread that pertains to sales tax.   Are you somehow trying to get a deduction for sales tax by calling the payoff of your mortgage a "major purchase"---or did you just pick this thread at random?

Only the interest paid for a mortgage is deductible---and it only has an effect on your refund or tax due if you also have enough itemized deductions to exceed your standard deduction.   The principal you paid off is not an itemized deduction at all, nor is it a "major purchase" for sales tax. 

[Arcisle]

I bought a car towards the end of 2021 and didn't deduct it then. Am I out of time or can I deduct it this year?

[tagteam]

For the purposes of the sales tax deduction, if you did not list the car on your 2021 return, you can either amend or forget it. 

You cannot, however, list the car on your 2022 federal income tax return if you bought it in 2021.

[Arcisle]

how do I know how much the credit would be to see if it's worth going down that rabbit hole?

[tagteam]

What type of car did you purchase and is this for the purposes of the sales tax deduction?

For the sales tax deduction, you would have to itemize your deductions and then the total of your itemized deductions would have to exceed your standard deduction in order for there to be any benefit.

[Arcisle]

it was a rav4, and yes.

[tagteam]

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@Arcisle wrote:

it was a rav4, and yes.

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Did you itemize on your 2021 return? 

Would your (itemized) deductions exceed your standard deduction?