i have three vehicles tagged,one bought and i cannot figure out what to enter on turbotax.i can only deduct fees based on its value.
2007-01-05 14:28:05 · 2 answers · asked by Samantha 1 in Business & Finance ➔ Taxes ➔ United States
Personal vehicles are not allowed to be deducted on your 1040.
If you have sales taxes associated with them, I guess you're trying to do something with that.
I'm sorry but I can't understand your question.
If you have a business and these are only for your business, then you can deduct the associated costs according to instructions on
www.irs.gov - which has all of the forms and instructions FREE.
GOD bless.
CPA-retired
2007-01-13 05:12:33 · answer #1 · answered by May I help You? 6 · 0⤊ 0⤋
You can only deduct vehicle registration fees based on the value of your car. Some states base fees on weight. If you live in a state where the registration fee is based on the value of the vehicle, check on your registration card. You deduct the fee, not the value of the vehicle. If you live in a state where the fee is based on weight, forget it; you can't deduct it.
2007-01-12 17:43:01 · answer #2 · answered by anr 3 · 0⤊ 1⤋