Leased Vehicle Sales Tax Deduction

[amyowendoff]

I have a 3 year lease on my car. Do I deduct 100% of the sales tax at time of purchase or do I spread it over the 3 year term of the lease?

[DavidD66]

It depends.  Did you pay the entire amount when you acquired the vehicle, or is it being spread out over the term of the lease?  If you paid 100% of it at the time of purchase you go ahead and deduct 100%.  If the tax was spread out over the three year term of the lease you deduct over three years.  

[amyowendoff]

Thank you