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slgy
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Is putting in a $7000 lawn in backyard considered a major purchase?

 
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4 Replies
Anonymous
Not applicable

Is putting in a $7000 lawn in backyard considered a major purchase?

for what reason are you asking?   for sales tax, the answer is probably yes

Is putting in a $7000 lawn in backyard considered a major purchase?

you can deduct any sales tax for which you have a receipt.

If at some point your receipts add up to more than the "standard amount" use your larger amount.

 

 

Kenva
New Member

Is putting in a $7000 lawn in backyard considered a major purchase?

A large landscaping renovation that substantially increases the value of your home can be considered a major purchase.  If the lawn was just a restoration and not an improvement, then it will not be considered a major purchase.

Is putting in a $7000 lawn in backyard considered a major purchase?

No.  Unless you use all your sale tax receipts.  

See IRS Schedule A page A-7 first column line 7 on what items you can add to the sales tax table. http://www.irs.gov/pub/irs-pdf/i1040sca.pdf

 

You can only add

1.  A Motor Vehicle

2.  Aircraft or Boat

3.  A Home

 

Major purchases do NOT include:

-Furniture

-Jewelry

-Home electronics

-Appliances

 

But most people are taking the Standard Deduction now since it has been increased a lot.  For 2019 the standard deduction on 1040 line 9 amounts are:

Single 12,200 + 1,650 for 65 and over or blind (13,850)

HOH 18,350 + 1,650 for 65 and over or blind

Joint 24,400+ 1,300 for each 65 and over or blind

Married filing Separate 12,200 + 1,300 for 65 and over or blind

 

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