I have a smashed windshield with a $500 deductible. If I get someone to fix it (for a lot), can I write off my payment of the deductible on my taxes next year, or is it just called the deductible because it is deducted from the total cost of the repair?
2007-04-05 14:54:45 · 0 answers · asked by Anonymous in Cars & Transportation ➔ Insurance & Registration
This is the stupidest question ever, isn't it. I feel like a big silly-billy.
2007-04-05 15:06:28 · update #1
Why would someone smash my windshield? Is it a message of some kind? Is someone in love with me and they can't seem to express themselves any other way? Maybe it's the Hulk. Is he real?
2007-04-05 15:32:42 · update #2
no u can't but most have full glass normaly thier is no deductibles for glass check your ins and see if u have full glass
2007-04-05 15:04:11 · answer #1 · answered by telebeltman 2 · 0⤊ 2⤋
To answer the second question first, it's just called the deductible because it's deducted from what the insurance company pays out to you.
If you can claim vehicle expenses (if you're self-employed, or it's your company vehicle, etc) then you can write off the $500 you paid as a car repair expense. Or you can write off the mileage.
*I prefer the mileage method myself. If this is the first year you've had the vehicle, I would choose the mileage method, since if you choose the actual expense method the first year, you can't switch to the mileage method next year. If you file with the mileage the first year, I believe that next year you could switch and use the other way. Anyway, I've always had more of a deduction using mileage than I had in actual expenses, plus then I don't have to figure out the depreciation.
I'd still check with a tax expert though. I currently use TaxCut to do my own taxes, the program may well have the answer for you.
No - not a stupid question, you just got a few people on here that get their kicks making others feel that way!
2007-04-05 15:09:18 · answer #2 · answered by Nadine - Unity CEO 3 · 0⤊ 0⤋
There is no tax deduction for auto deductibles.
2007-04-05 14:59:02 · answer #3 · answered by gatorgrad99_99 3 · 1⤊ 2⤋
Unless you use the vegicle for business purposes you cannot deduct ins or maintenancefrom income tax.
In this case, YOU pay the first $ 5000. ((Check w/your agent.)
2007-04-05 15:00:15 · answer #4 · answered by TedEx 7 · 0⤊ 2⤋
Lord...please sell your computer.
2007-04-05 15:07:50 · answer #5 · answered by Anonymous · 2⤊ 1⤋