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Does a furnace qualify as a major purchase?

does a new roof qualify as a major purchase?
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3 Replies
KrisD15
Expert Alumni

Does a furnace qualify as a major purchase?

Please clarify, 

qualify as a major purchase for what? An Energy Credit? Increase in Basis? State Sales Tax? 

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rjs
Level 15
Level 15

Does a furnace qualify as a major purchase?

Are you asking about major purchases for the sales tax deduction? Although TurboTax uses the term "major purchases," that is not an accurate description of the purchases you are allowed to add. What you are allowed to add is the tax on "certain specified items." The specified items are a motor vehicle, an aircraft, a boat, a home, or a substantial addition to or major renovation of a home. See the IRS Instructions for Schedule A for details.


Neither a new furnace nor a new roof is a specified item. Neither of those is a major renovation of the home.

 

Does a furnace qualify as a major purchase?

instead of the general sales tax value based on your income,

 

you can deduct all sales tax for which you have receipts, such as, roof, furnace, furnishings, groceries, autos, sundries and anything else.

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