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17 Replies Expert AlumniYes, if you are itemizing your deductions, then you can deduct state and local taxes that you pay for your personal property. Personal property is all property except real property (such as your home, vacation home, and rental property). Examples of personal property that are often taxed include vehicles, boats, recreational vehicles, airplanes, and mobile homes. The taxes must be assessed annually and must be based on the value of personal property you own.
To enter your Personal Property Taxes take the following steps:
If you're using TurboTax CD/Download then take these steps:
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I am not finding this location for entering vehicle property tax.
Like other posters, I cannot get the entry to type in the box for this entry. For the record, I've got the CD version of the software.
February 26, 2020 8:30 AM Expert AlumniI have tested this in the desktop version of the software and am able to get it to work. Be sure your updates have run.
You may have entered vehicle registration expenses or personal property taxes on your Federal return that are carrying over to your state. Follow these steps:
You may need to troubleshoot your software.
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The screen comes up as a blank screen. Using the 2019 TurboTax download. Grrrrr
April 1, 2020 9:31 AM Expert AlumniTo enter your personal property tax for cars follow these steps.
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So then why does Turbotax say "this is not common".
Surely it would be pretty common since everybody has a car right? I mean most people in America anyway.
Did you pay personal property taxes in 2019?
This is not common because it doesn't include property (real estate) taxes or car registration fees. Learn more
Personal property taxes includes taxes on the following:
Motor homes
Mobile homes
Planes
Boats
to Possibly answer my own question maybe it is because many states do not have an annual car tax?
Car taxes cetainly seem to fit the description here:
June 25, 2020 8:00 PM Expert AlumniA "personal property tax" on your car is not all that common. That's because most things that people think of as car taxes are actually ad valorem taxes, that is, taxes based on the value of the vehicle. Well, to be clear, a car registration tax has to be an ad valorem in order to be deductible (I did not mean to imply that most car registration taxes are deductible, only the ones based on the value of the car - and this varies from state to state).
A "personal property tax" is a levy imposed on a person’s property . The tax is levied by the jurisdiction where the property is located, and it includes tangible property that is not real property. In other words, it could be on any asset you have that is not real property. So this is different from the annual vehicle registration, and this is why TurboTax says that it is not that common.
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