Sales tax deduction on Federal IT

Question

Feb 12, 2007, 01:40 PM

v0c2000

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Join Date: Feb 2006

Posts: 19

Sales tax deduction on Federal IT

Is it possible to deduct sales tax on my federal return. I live in TX and pay no state tax. I bought a $35000 car with 8.25% tax, so was wondering if there was a way of recovering some of that. And no, its not a hybrid.

Thanks
v0c2000

Answers

Feb 13, 2007, 08:49 AM	#2

AtlantaTaxExpert Tax Expert Join Date: Feb 2005 Location: Atlanta, Georgia Posts: 10,021	Yes, there is a forumula you use based on state and local sales taxes and the amount of money you earned. You add the 8.25% sales tax for the car to the resulting formula figure.

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