The American Recovery and Reinvestment Act of 2009 included a new income tax deduction for state or local sales or excise taxes paid on qualifying 2009 motor vehicle purchases. \u00a0This deduction is limited to taxes on the first $49,500 of the cost of the vehicle. \u00a0Conversations with the IRS National Media Relations office verified that the deduction is limited to the first $49,500 of cost but is available for two or more vehicles.<\/p>\n
Vehicles included are passenger autos, light trucks and motorcycles and motor homes. \u00a0However, these vehicles must be new and their original use must begin with the taxpayer.<\/p>\n
The deduction is available to itemizers and in addition to the standard deduction for those that do not itemize. \u00a0This is the second itemized deduction that is allowed to non-itemizers for 2009. \u00a0The other is a real property tax deduction that is treated as an increase in the standard deduction of $500 ($1000 for married filing joint status).<\/p>\n","protected":false},"excerpt":{"rendered":"
The American Recovery and Reinvestment Act of 2009 included a new income tax deduction for state or local sales or excise taxes paid on qualifying 2009 motor vehicle purchases. \u00a0This deduction is limited to taxes on the first $49,500 of the cost of the vehicle. \u00a0Conversations with the IRS National Media Relations office verified that … Continue reading Vehicle Sales Tax Deduction<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[399],"class_list":["post-134","post","type-post","status-publish","format-standard","hentry","category-federal-income-tax","tag-federal-income-tax"],"_links":{"self":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=134"}],"version-history":[{"count":5,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/134\/revisions"}],"predecessor-version":[{"id":139,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/134\/revisions\/139"}],"wp:attachment":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}