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Subjects>Auto>Automotive Information

Can I deduct the purchase of a used car?

Anonymous

∙ 15y 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

∙ 15y ago

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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.

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