A blog post

Did You Buy a Car in 2009?

Posted on the 16 February, 2010 at 3:13 pm Written by in Taxes

The actual question is: did you buy a new car in 2009?

If you bought between February 17 and December 31, 2009, then you can deduct the sales tax whether you itemize deductions or not.

Oh, there is a limit to this. The price of the car is limited to $49,500. Not a problem for most of us.

There is a phaseout. If you are single, the phaseout is between $125,000 and $135,000. If you are married, the range is $250,000 to $260,000.