There's a new Consumer rebate program

[blmarvin]

Can I file with Turbo Tax?

[xmasbaby0]

The "consumer rebate program" is a myth.

[blmarvin]

please expand

[rhertzog]

What can I claim on 1040A

[SweetieJean]

If you have itemized deductions, you must file a Form 1040.

[VolvoGirl]

@rhertzog  please start a new question.  This old one was about something else.

[SweetieJean]

<a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/f1040a.pdf">https://www.irs.gov/pub/irs-pdf/f1040a.pdf</a>

[VolvoGirl]

1040A doesn't let you take deductions.  Only the full 1040.  If you are using the Free Edition you will have to upgrade to Deluxe to enter deductions.

[connie-gaddy]

Obama didn't sign a new rebate in Dec 2015 ?

[xmasbaby0 · Accepted solution]

There seems to be a myth circulating that there is some sort of new"rebate" on any retail purchases made.  There is no such rebate program. At the end of the year the sales tax deduction on your income tax return was made a permanent part of the tax law. When you itemize deductions on your tax return one of the deductions available is for your state and local sales tax for major purchases such as vehicles, boats, etc. and for general retail purchases. Taxpayers can choose to save every receipt and enter the total or let the tax program calculate the amount based on a formula including your AGI.
But rebate??  No. At best the deduction could affect your tax due or your tax refund.

[oliverb418]

If its a myth, why are there so many publications out for people to  read about it? Why is an organization like "The Oxford Communique" putting out articles on this? They seem to have an understanding of this new rebate law, and other rebate laws, in our tax code.Is "Turbo Tax" against rebates for the people? These are rebates not refunds.

[xmasbaby0]

The "Oxford Club" would love to sell you a $49 a year subscription, so they try to entice you with the "consumer rebate."
 <a rel="nofollow" target="_blank" href="http://www.snopes.com/consumer-rebate-program/">http://www.snopes.com/consumer-rebate-program/</a>

Sales tax is an itemized deduction.  If your state has a state income tax, you have to choose between using the deduction for your state tax paid OR the sales tax deduction, whichever is higher.  The TT process will suggest one or the other as you prepare your return.

“Major purchases” that you can enter for the sales tax deduction include:
Motor Vehicles (cars, trucks, motor homes, RV’s, sport utility vehicles and off-road vehicles
Aircraft or boats
Mobile homes
Manufactured housing
Building materials for major home improvements
You cannot deduct: furniture, jewelry, home electronics such as TV’s or computers
You can enter the sales tax you paid in 2016 by going to Federal>Deductions and Credits>Estimates and Other Taxes Paid> Sales Tax.

[bnesbitt]

"If you file a Form 1040, and itemize deductions on Schedule A, you have the option of claiming either state and local income taxes or state and local sales taxes (you can’t claim both). If you saved your receipts throughout the year, you can add up the total amount of sales taxes you actually paid and claim that amount."
https://www.irs.gov/Individuals/Sales-Tax-Deduction-Calculator

In 2015 a change to the rules was made permanent. The sales tax deduction is particularly welcomed by taxpayers in states that do not collect income taxes but do levy state sales taxes:

http://www.bankrate.com/finance/taxes/take-advantage-of-the-sales-tax-deduction-1.aspx

Read about the myth here:

http://www.stockgumshoe.com/reviews/oxford-club/whats-oxford-clubs-42-4-billion-consumer-rebate-prog...