can you write a car off on your income tax in illinois??

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can you write a car off on your income tax in illinois??

2007-11-06 14:22:05 · 3 answers · asked by pmamita229 1 in Business & Finance ➔ Taxes ➔ United States

3 answers

Only if it's used in a business. Personal use is never deductible.

If your county or city levies an ad-valorem personal property tax no motor vehicles -- the do here in MO -- you CAN deduct that on Schedule A if you itemize your deductions.

2007-11-06 14:54:48 · answer #1 · answered by Bostonian In MO 7 · 3⤊ 0⤋

Yes if it is due to an accident or theft, then you can take casualty loss deduction (equal to FMV before the event and FMV after the event) if you itemize your deductions. This deduction is limited by $100 rule and 10% AGI rule.

2007-11-07 01:19:16 · answer #2 · answered by MukatA 6 · 0⤊ 1⤋

not really

2007-11-06 23:02:20 · answer #3 · answered by Anonymous · 0⤊ 0⤋