The new car tax deduction is intended to benefit both the auto industry and consumers by making it less expensive for Americans to buy vehicles. Through 2009, the ARRA allows taxpayers to deduct state and local taxes paid on the purchase of new cars, light trucks, recreational vehicles, and motorcycles.
To be eligible, taxpayers must have an adjusted gross income of less than $125,000 for individuals or less than $250,000 for couples.
Do Your Taxes Online and Save!
|
Certain content Copyright © HRB Digital LLC. All Rights Reserved.