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sjfinn57
New Member

I bought a car in 2016 and the salesman said to let my tax preparer know. Since that is me, which form must I use (1040A, 1040, etc.)?

 
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CalebB
New Member

I bought a car in 2016 and the salesman said to let my tax preparer know. Since that is me, which form must I use (1040A, 1040, etc.)?

Congratulations on your new car! 

The most common deduction that you might be able to get after a big purchase like a car is for the Sales Tax that you paid on the purchase. However, to be able to take advantage of that deduction, you'll need to be able to itemize your deductions. As you prepare your return, TurboTax will ask you to enter information regarding big purchases and will take all the details you enter, crunch the numbers and determine if it'll be better for you to itemize your deductions or take the standard deduction.

For more information about how this purchase could affect your taxes, check out this article: https://ttlc.intuit.com/questions/2588802-how-to-claim-a-new-car-on-your-taxes

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