0

Subjects>Auto>Automotive Information

Can I deduct the purchase of a used car?

Anonymous

∙ 16y ago

Updated: 10/20/2022

Not unless you use the vehicle for business purposes. You may be able to deduct the sales tax if you itemize your tax return.

Wiki User

∙ 16y ago

What else can I help you with?

Trending Questions

What is the distance in England from Andover to Dover? Can a 19 year old with buyers remorse void a new car sales contract in NC? What is the life expectancy of a Buick v 6 engine? What is the difference between 3157 and 3157na bulbs? How far is it to drive from York to Leeds? Why did manufacturers stop trying to make fuel-efficient cars? Why does AutoZone advertise that they can diagnose your car for free when they can REALLY only do cars from 1996 and newer? If I have a serial number for a Breitling watch how do I find the value? How many miles is it from San Jose CA to Riverside CA? How many miles is it between Indianapolis and Fort Wayne IN? If you haven't made car payments in a long time would it be better to turn your car over to the lender or to start sending payments now? How do you check traffic voilation ticket? What are the wiring color codes for automotive vehicles? What is the driving distance from Toronto Ontario to Williamsburg Virginia? How far is the distance between London and Ipswich? What is the firing order of ford 460 CID 1990? What is the distance in miles from Sunnyvale to San Mateo? Where can a person compare car insurance bands online? What would cause a 1998 Cadillac stall and die at traffic light? What constitutes the sale and legal transfer of ownership on a vehicle how long does it take and what is DMV's role?

Related Questions

Can you deduct the purchase of a used car from your taxes?

No. But an uninsured vehicle loss can be.

What amount can I deduct from my taxes for a charitable car donation?

You can deduct about 500 dollars through car donation

How is the net delivered cost of purchases computed?

To calculate the net delivered cost of purchase, one would add purchases and freight in and then deduct purchase returns & allowances and then deduct purchase discounts.

Where can one purchase certified used Hondas?

You can purchase a certified used Honda car at your local car dealership. If you would prefer to purchase the car online, you can try a service such as AutoTrader.

How do you return a used car after purchase if there is a problem with the car in Texas?

The buyers remorse law does not apply to the purchase of a new or used vehicle.

What are the tax implications of buying a car with cash according to the IRS?

When you buy a car with cash, there are no specific tax implications according to the IRS. The purchase itself does not directly impact your taxes. However, you may be able to deduct sales tax or other expenses related to the car purchase if you itemize your deductions on your tax return.

Where can one purchase a car online?

You can purchase a car online from websites such as eBay and AOL! Autos. Alternatively, you can also purchase a car used from classifieds such as Craigslist.

Can you return a used car in Colorado within 72 hours after purchase?

If it is a used car then no

Can retirement funds be used to purchase a car?

Yes, retirement funds can be used to purchase a car, but it is generally not recommended as it can result in penalties and taxes.

Where can you purchase old used cars?

You can try a used car lot or some car dealers have used cars available for purchase. Or you could ask around and see if anyone you know is selling a car.

Where can one purchase Audi used cars?

One can purchase an Audi used car directly from your Audi car dealership. One can also find used Audi's for sale from rental car agencies, and on Carmax.

Can you write off car wash expenses on your taxes?

Yes, you may be able to deduct car wash expenses on your taxes if the car is used for business purposes. However, personal car wash expenses are not typically deductible.

Resources

Top Categories

Product

Company

Copyright ©2025 Infospace Holdings LLC, A System1 Company. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Answers.