Since I have a major purchase with over $1,000 in sales tax I want to add all the other sales taxes that I paid last year so I can deduct them on my income tax retrun. However,I don't know how to figure tha sales tax portion on my gas purchases.
2007-04-03 11:05:12 · 5 answers · asked by whalenfree 3 in Business & Finance ➔ Taxes ➔ United States
Gasoline taxes are not sales taxes. At the Federal level and in many states, gasoline is taxed per gallon, not as a percentage of the sales price. In any case, taxes on gasoline are specifically listed as not deductible.
2007-04-03 13:17:32 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋
earnings taxes (state) have consistently been deductible. For the finest few years, you've been given the alternative between claiming state/community earnings taxes or sales taxes - yet no longer both. This usually works out once you've offered a large fee ticket merchandise alongside with a sparkling automobile. notwithstanding, as a fashion to get the deduction, you ought to itemize.
2016-12-03 05:43:23 · answer #2 · answered by menut 4 · 0⤊ 0⤋
As far as I was told you can't deduct gas from your taxes. Unless your a car dealership, even then its tricky. Ask an accountant. Besides, that part about sales tax only applies to purchases made outside New York. (over Internet etc.) FYI, gas prices have all taxes included. You would have to ask the station owner to break it down for you. Don't think that's going to happen.
2007-04-03 11:42:46 · answer #3 · answered by sofawetodd 1 · 0⤊ 2⤋
The taxes on gasoline don't qualify for the sales tax deduction.
2007-04-03 11:11:08 · answer #4 · answered by Judy 7 · 2⤊ 0⤋
Use the table if you do not have receipts.
Some states (Florida for example) do not charge sales tax on gas. They impose a gas tax instead. If so, that tax is not deductible.
2007-04-03 11:25:59 · answer #5 · answered by zudmelrose 4 · 1⤊ 1⤋