bought a car, cash! in '05.but i didn't mention it in the '06 return.do i still have to report it?&showproof?

Answer 1

Why would you report the purchase of a car on your income tax return? It's not income, is it? It's an asset. No need to report it unless you're in the business of buying and selling cars.

Answer 2

You have to report income on your tax form. A car is something you purchased. It has nothing to do with your taxes, unless it is a Hybrid car or you use your car in your business.

Answer 3

No. You don't have to declare it on your tax return at all, unless you are using it in a business.