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bermealeo
New Member

ADDING MAJOR PURCHASE

 
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2 Replies

ADDING MAJOR PURCHASE

For what?  For the Sales Tax deduction.  If you want to itemize deductions you have to upgrade to Deluxe.  If you itemize your deductions you can either take the state and local SALES TAX deduction OR the state and local INCOME TAX deduction whichever is greater. There are a couple items like car sales tax you can add to the general sales tax table. That is mainly for people who live in a state without a state income tax.

 

Turbo Tax FAQ on Sales Tax
https://ttlc.intuit.com/questions/3148443-how-do-you-define-major-purchase-or-major-item-for-the-sal...

 

See IRS Schedule A page A-6, middle column for line 7 for what items you can add to the sales tax table. http://www.irs.gov/pub/irs-pdf/i1040sca.pdf

You can only add
1. A Motor Vehicle
2. Aircraft or Boat
3. A Home

 

Major purchases do NOT include:
-Furniture
-Jewelry
-Home electronics
-Appliances

 

 

HelenC12
Expert Alumni

ADDING MAJOR PURCHASE

Please clarify. 

  • Is the major purchase for a personal residence, a rental, or a business?
  • What version of TurboTax are you using, Online or CD/Download?
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