Are there any CPA's in CA on here SBR

[UntilTheNDofTimE]

I Have a tax question that i was researching but could not find a answer and what i did find was conflicting.

I bought a new car in California in 2011. Is the sales tax deductible?

Turbo Tax states that only in 2009 can you claim your sales tax on your car as a tax write off, but on the IRS website it states.....

If you file a Form 1040, and itemize deductions on Schedule A, you have the option of claiming either state and local income taxes or state and local sales taxes. (You can’t claim both.) If you saved your receipts throughout the year, you can add up the total amount of sales taxes you actually paid and claim that amount.

Asked this question also on yahoo answers and got conflicting answers as well. I will end up talking to one of my associates whos a accountant later this week but i just wanted to see if i could get a answer on here.

[dodger33]

I bought a new car in California in 2011. Is the sales tax deductible?

If you itemize you either get to deduct state income taxes paid or sales tax paid.

[blackbeSSt]

cpa's? here at sbr? are you fukkin kidding me?

half the shits here can't even get a job flipping burgers. much less be able to go to college and get an accounting degree

[UntilTheNDofTimE]

If you itemize you either get to deduct state income taxes paid or sales tax paid.

So if i paid more state income taxes than sales tax its pointless to write it off. I paid around 3500 in local state tax on my W-2

[dodger33]

So if i paid more state income taxes than sales tax its pointless to write it off. I paid around 3500 in local state tax on my W-2

correct. the state income tax includes both state disability (sdi), 2011 was 1.2% of wages, and then also box 17 state income tax.

[milwaukee mike]

So if i paid more state income taxes than sales tax its pointless to write it off. I paid around 3500 in local state tax on my W-2

what you have to do is add the sales tax you paid on the new car to the table amount for sales tax based on your income. then take that total and compare it to the state income taxes paid during the year.

turbo tax or whoever is doing your tax return should be able to run the calculations, it's more complicated than you think based on your county and what your a.g.i. is.