Car purchase

[yashK1]

Hello,

I purchased a used Car last year for $5.5K. I gave a cheque to the owner of the car and paid around 400-450 for registration. Was this taxable event ? I did not add anything related to this in my taxes. Do i need to amend anything. My main concern is not getting any tax deductions or money back. But I should not owe anything to IRS.

[DoninGA]

The purchase of a personal vehicle, not used in a business, is not a taxable event nor reported on a tax return.

If your state requires that you pay a personal property tax for the vehicle (ad valorem) based on the value of the vehicle, that personal property tax would be deductible as an itemized deduction on Schedule A.  However, the total of all itemized deductions would have to be greater than the standard deduction for your filing status to have any tax benefit.