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    v0c2000's Avatar
    v0c2000 Posts: 19, Reputation: 1
    New Member
    		  
    #1

    Feb 12, 2007, 03:40 PM
    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
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 13, 2007, 10:49 AM
    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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