Question
sales tax deduction question
I live in Florida and take the sales tax deduction instead of an income tax deduction. I understand that the sales tax for a new car is deductible, whether you purchase or lease the vehicle - but what about the monthly sales tax you continue to pay for the car on the years you didn't buy it? On my lease, there were no upfront sales tax charges the year I purchased, just the monthly sales tax added to the principal each month. Can I only deduct the sales tax I paid the year the car was leased or can I continue to claim this deduction each year?
