Skip to main content
February 18, 2025
Solved

What dollar amount would be considered a major purchase

  • February 18, 2025
  • 1 reply
  • 0 views
No text available
    Best answer by xmasbaby0

    It is not based on a dollar amount.

     

    SALES TAX

    You can enter the sales tax you paid  in 2024 by going to

     

    Federal>Deductions and Credits>Estimates and Other Taxes Paid> Sales Tax. 

     

    You will be asked if you paid sales tax on a major purchase, and you will be able to enter the sales tax you paid 

     

    Sales tax is an itemized deduction.  Unless you have enough other itemized deductions to exceed your standard deduction the sales tax will have no effect on your tax due or refund.

     

    “Major purchases” that you can enter for the sales tax deduction include:

    Motor Vehicles (cars, trucks, motor homes, RV’s, sport utility vehicles and off-road vehicles

    Aircraft or boats

    Mobile homes

    Manufactured housing

    Building materials for major home improvements

    You cannot deduct: furniture, jewelry, home electronics such as TV’s or computers

     

     

    States with no sales tax:  Alaska, Delaware, Montana, New Hampshire and Oregon

     

    1 reply

    xmasbaby0Answer
    Employee
    February 18, 2025

    It is not based on a dollar amount.

     

    SALES TAX

    You can enter the sales tax you paid  in 2024 by going to

     

    Federal>Deductions and Credits>Estimates and Other Taxes Paid> Sales Tax. 

     

    You will be asked if you paid sales tax on a major purchase, and you will be able to enter the sales tax you paid 

     

    Sales tax is an itemized deduction.  Unless you have enough other itemized deductions to exceed your standard deduction the sales tax will have no effect on your tax due or refund.

     

    “Major purchases” that you can enter for the sales tax deduction include:

    Motor Vehicles (cars, trucks, motor homes, RV’s, sport utility vehicles and off-road vehicles

    Aircraft or boats

    Mobile homes

    Manufactured housing

    Building materials for major home improvements

    You cannot deduct: furniture, jewelry, home electronics such as TV’s or computers

     

     

    States with no sales tax:  Alaska, Delaware, Montana, New Hampshire and Oregon

     

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**