Can I get the new car sales tax credit on tax return?
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Can I get the new car sales tax credit on tax return? I bought a brand new 2010 nissan sentra but when I look up under the new car tax credit is says between February 17 2009 - December 31 2009 to qualify? Am I reading this wrong? Ive always heard of new car tax credit and now I finally purchased one but do not want to input this if its not being offered this year? Please explain.. Texas
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Answer:
The question is whether or not you itemize and *when* you bought the car. If you bought the car in 2010, you can only claim the sales tax if you itemize and add the car tax to the amount on line 5b. (Used car tax can be claimed too) If you bought the car in late December 2009 (like New Year's Eve) and paid the sales tax in 2010, you can use schedule L in addition to your standard deduction.
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