new car tax deduction? - Toyota GR86, 86, FR-S and Subaru BRZ Forum & Owners Community

Grip Ronin · 01-11-2013, 05:30 PM

Anyone know if they have a new car tax deduction this year? Last im seeing is 2010

FR-Shadow · 01-11-2013, 05:39 PM

Im pretty sure there is a deduction on the tax paid on any automobile, motorcycle, or Motorhome bought in 2012. But thats wi i dont know if that's different.

W2 · 01-11-2013, 07:41 PM

I don't think so, I looked into this when I bought mine and did not find anything.

jlu · 01-11-2013, 08:15 PM

You can choose to deduct sales tax on your federal return rather than state income tax (if you're itemizing deductions). If you're in a state with no income tax or you pay very little state income tax, hold onto that receipt.

I do not believe there are any specific new car tax credits or deductions.

Grip Ronin · 01-12-2013, 04:58 PM

hm so i might have to go with a 1040a for this? nj is beyond reasonable taxing so i want some back lol

Midtenn · 01-12-2013, 06:07 PM

Depends on your state. I know in Tennessee were we don't have an income tax, but we do have a high state sales tax, you can deduct what you've spent on large items directly.

bpracer · 01-12-2013, 09:39 PM

I don't think they continued the sales tax deduction for people that live in no-state-income-tax states. Congress renewed this every year for the past several years, this has not been done for 2012.

Congress could make it retroactive to 2012, but I'm not holding my breath that much of anything will happen.

Not happy about this...

Grip Ronin · 01-13-2013, 11:13 AM

hm i dont have much faith in them either

01-11-2013, 05:30 PM	#1
Grip Ronin The Mechanic Join Date: Mar 2012 Drives: Civic Turbo,FR-S Location: NJ Posts: 928 Thanks: 130 Thanked 171 Times in 119 Posts Mentioned: 2 Post(s) Tagged: 1 Thread(s)	new car tax deduction? Anyone know if they have a new car tax deduction this year? Last im seeing is 2010 __________________ IG-Joey_Soul Progress Thread Ported billet 20G

01-11-2013, 05:39 PM	#2
FR-Shadow Senior Member Join Date: Oct 2012 Drives: 2013 Scion FRS Location: Arizona Posts: 1,418 Thanks: 260 Thanked 502 Times in 297 Posts Mentioned: 31 Post(s) Tagged: 0 Thread(s)	Im pretty sure there is a deduction on the tax paid on any automobile, motorcycle, or Motorhome bought in 2012. But thats wi i dont know if that's different. Last edited by FR-Shadow; 01-12-2013 at 09:50 PM.

01-12-2013, 04:58 PM	#5
Grip Ronin The Mechanic Join Date: Mar 2012 Drives: Civic Turbo,FR-S Location: NJ Posts: 928 Thanks: 130 Thanked 171 Times in 119 Posts Mentioned: 2 Post(s) Tagged: 1 Thread(s)	hm so i might have to go with a 1040a for this? nj is beyond reasonable taxing so i want some back lol __________________ IG-Joey_Soul Progress Thread Ported billet 20G

01-13-2013, 11:13 AM	#8
Grip Ronin The Mechanic Join Date: Mar 2012 Drives: Civic Turbo,FR-S Location: NJ Posts: 928 Thanks: 130 Thanked 171 Times in 119 Posts Mentioned: 2 Post(s) Tagged: 1 Thread(s)	hm i dont have much faith in them either __________________ IG-Joey_Soul Progress Thread Ported billet 20G

01-11-2013, 08:15 PM	#4
jlu Senior Member Join Date: Dec 2012 Drives: Asphalt AT FR-S Location: SF Bay Area Posts: 194 Thanks: 89 Thanked 81 Times in 45 Posts Mentioned: 3 Post(s) Tagged: 0 Thread(s)	You can choose to deduct sales tax on your federal return rather than state income tax (if you're itemizing deductions). If you're in a state with no income tax or you pay very little state income tax, hold onto that receipt. I do not believe there are any specific new car tax credits or deductions.

01-12-2013, 06:07 PM	#6
Midtenn Member Join Date: Dec 2011 Drives: 1995 Mazda Miata Location: Middle Tennessee Posts: 28 Thanks: 2 Thanked 13 Times in 6 Posts Mentioned: 0 Post(s) Tagged: 0 Thread(s)	Depends on your state. I know in Tennessee were we don't have an income tax, but we do have a high state sales tax, you can deduct what you've spent on large items directly.

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