High ticket item sale tax deduction

I faintly recall that some years back that sale tax on high ticket item such as car and remodeling materials were deductible in addition to the standard allowance.

Is this still valid for 2010?

Thanks Mauro

Reply to
MG
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There is a pretty concise explanation and summary here:

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"Some years back" there was *not* an optional sales tax deduction, it only came back beginning with 2005 tax year. (I say "came back" because this option also existed many, many years ago, sometime back in the

1980's or 90's, I forget exactly when).

But yes, if you choose the optional sales tax deduction instead of state income tax deduction, and if you choose the "safe harbor" (IRS lookup table) method instead of actual sales taxes paid, then you can add the actual sales tax for certain purchases, as you mention. Keep good records of your purchases if you use this option.

-Mark Bole

Reply to
Mark Bole

Old age to the rescue, and if time has taken its toll on my memory I'm sure someone will correct me. My tax knowledge starts with 1970 law, and sales tax was always a Schedule A deduction along with state and local income tax rather than a choice between the two. I believe it was eliminated in TRA '86.

Phil Marti VITA/TCE Volunteer Clarksburg, MD

Reply to
Phil Marti

I just took a look at my old tax returns. 1986 was the last year in which Sales Tax was allowed as a deduction; in fact, Schedule A for the 1987 returns said that Sales Taxes are no longer deductible.

I guess it was the large FL and TX delegations to the House of Representatives that resulted in Congress adding back Sales Tax as a deduction, although as an either/or with an Income Tax.

And for those of us on or soon eligible for Medicare, up through 1978 State and Local gasoline taxes were deductible.

Reply to
Stan K

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