General Question

gailcalled's avatar

Are both New York state tax deductions and state sales tax allowed?

Asked by gailcalled (54644points) February 16th, 2007
Or does one have to choose. I bought a new car, kitchen range, washer and dryer in 2006 - so have a pretty high sales tax. Someone told me that the NYS sales tax is actually off the table this year and I have to stick w. state income tax, which is slightly lower than sales tax. It really is too much!
Observing members: 0 Composing members: 0

2 Answers

kelly's avatar
I am not a CPA and I think this is the case about taking sales tax as a deduction on federal tax return: you can only take the state sales tax as a federal deduction if you itemize your return. also, most folks take a standard deduction on their federal return and it is more than normal sales tax deduction unless you have a significant amount of sales tax receipts. I also think there is a maximum sales tax deduction based on your adjusted gross income. please have an accountant confirm
gailcalled's avatar
Thanks, I think. I do itemize my return and will indeed check w. CPA..also the unfriendly irs.gov site, which I was hoping to avoid.

Answer this question

Login

or

Join

to answer.

This question is in the General Section. Responses must be helpful and on-topic.

Your answer will be saved while you login or join.

Have a question? Ask Fluther!

What do you know more about?
or
Knowledge Networking @ Fluther