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Purchased a car can I apply to my taxes

Purchase a new car can I use it for my taxes 

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1 Reply
NateTheGrEAt
Expert Alumni

Purchased a car can I apply to my taxes

Hi @Wehmeyer63 - thanks for your question!

 

If you itemize deductions, you could claim the sales tax paid for the car as a deduction. Whether this benefits you depends on whether the amount of sales tax you can claim is greater than the amount of state income tax you paid. 

 

Also, you may be able to deduct a portion of your vehicle registration fee as personal property tax, depending on the laws of your state.

 

Finally, you didn't mention anything about having a business, but if you are self-employed and use the car for business, there may be additional deductions available.

 

I hope this information is helpful!

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