Skip to main content
June 1, 2019
Solved

Can I deduct the Excise tax on my boat registration in the state of Washington?

  • June 1, 2019
  • 1 reply
  • 0 views

Can I deduct the Excise tax  on my boat registration in the state of Washington?

Best answer by DS30

Yes, because this WA boat excise tax is based on the fair market value (FMV) of the boat (at a rate of 0.005% of the FMV).

To enter your personal property taxes in TurboTax (for TurboTax Online sign-in, click Here , then select "Take Me to My Return") Online or Desktop, please follow these steps:

  1. Once you are in your tax return, click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
  2. Next click on “Deductions and credits”
  3. Next click on "jump to full list" or “I’ll choose what I work on”
  4. Scroll down the screen until to come to the section “Cars and Other Things You Own”
  5. Choose "show more", then Personal Property Taxes and follow the onscreen instructions


1 reply

DS30Answer
Employee
June 1, 2019

Yes, because this WA boat excise tax is based on the fair market value (FMV) of the boat (at a rate of 0.005% of the FMV).

To enter your personal property taxes in TurboTax (for TurboTax Online sign-in, click Here , then select "Take Me to My Return") Online or Desktop, please follow these steps:

  1. Once you are in your tax return, click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
  2. Next click on “Deductions and credits”
  3. Next click on "jump to full list" or “I’ll choose what I work on”
  4. Scroll down the screen until to come to the section “Cars and Other Things You Own”
  5. Choose "show more", then Personal Property Taxes and follow the onscreen instructions