are vehicle registration tax deductible?
186201
To deduct the value-based portion of your registration fee, you must itemize your deductions using IRS Form Schedule A. Car fees go on the line for "personal property taxes." ... Nevertheless, if the fee is value-based and assessed on a yearly basis, the IRS considers it a deductible personal property tax.
3607
Certain vehicle registration fees are deductible as an itemized deduction on Form 1040 Schedule A. Louisiana is one of the states where the registration fee that is based on the value of the vehicle is deductible.
931284
The part of your Colorado vehicle registration fee that is deductible on your federal return is the ownership tax. The specific ownership taxes you paid for a registration should be on the back of your registration receipt.
26500
As you correctly identify in your question, in the State of Washington, the only portion of your vehicle registration charge that is tax deductible (on Form 1040 Schedule A as an itemized deduction) is the amount shown on your registration statement for the RTA (Regional Transit Authority) tax.
887144
According to the Missouri Department of Motor Vehicles, Registration fees for passenger vehicles are determined by your vehicle's taxable horsepower. ... Since it's not based on the value of your vehicle, it's not deductible.
443844
Car insurance is tax deductible as part of a list of expenses for certain individuals. ... While you can deduct the cost of your car insurance premiums, they are just one of the many items that you can include as part of using the “actual car expenses” method.
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For Massachusetts, the deductible portion of your vehicle registration fee is the Motor Vehicle Excise Tax you paid on your vehicles.
135511
You can deduct the full amount of allowable expenses for the car (for the portion of time you used the vehicle for business purposes). ... and drove 10,000 miles for business out of 20,000 miles total for the year, your deduction for vehicle expenses would be $2,500.
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None of it is deductible. According to the Missouri Department of Motor Vehicles, Registration fees for passenger vehicles are determined by your vehicle's taxable horsepower. Your vehicle's taxable horsepower is recorded on your title, or on your Application for Missouri Title and Registration.
223761
Complicated Answer: State and local registration renewal fees are deductible as personal property taxes only if the fees are based on the value alone and are imposed on a yearly basis. ... If the registration renewal fee is based on the weight of the car then the fee is not considered a personal property tax.
513380
Is car insurance tax deductible? Car insurance is tax deductible as part of a list of expenses for certain individuals. ... While you can deduct the cost of your car insurance premiums, they are just one of the many items that you can include as part of using the “actual car expenses” method.
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Can I deduct vehicle registration fees in Illinois? No, the states with deductible registration fees are: Alabama.
186802
Property tax/vehicle registration deduction in North Carolina. Definitely just list Property Tax, not registration fees, for vehicles in NC.
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The legal reasoning for deducting the RTA tax is as follows. The IRS only allows that portion of a state registration fee that is based on the value of the vehicle to be included toward your other itemized deductions. Any flat fee portion doesn't count.
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Additional Vehicle Use Deductions: In addition to the standard mileage rates, you may deduct the costs of tolls and parking while using your vehicle for one of the approved purposes. ... However, if you have claimed vehicle depreciation, you may not deduct tolls and parking fees.
239199
Deductible Expenses: According to the Internal Revenue service deductible car expenses include any related to the operating and maintaining of your car when traveling away from home on business. You can deduct actual expenses or the standard mileage rate, as well as business-related tolls and parking.
1325832
When you register a new car in North Carolina, you'll pay several fees. One fee is based on the total cost of your car, and is a percentage of your car's value. ... A portion of these fees is tax-deductible.