the boss Posted January 31, 2011 Report Share Posted January 31, 2011 Did legislation pass to allow taxpayers that can't itemize but paid R/E tax to use Schedule L in order to achieve a higher standard deduction as last year? Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted January 31, 2011 Report Share Posted January 31, 2011 No, the Sch L is still in existence, but it now covers only certain disaster losses and new motor vehicle taxes, Quote Link to comment Share on other sites More sharing options...
Tax Prep by Deb Posted February 1, 2011 Report Share Posted February 1, 2011 And the new motor vehicle taxes has to be for a vehicle purchased prior to January 1, 2010. So how in the world does that work, unless it's referring perhaps to a lease where the sales tax is paid through each payment? Deb! Quote Link to comment Share on other sites More sharing options...
TAXBILLY Posted February 1, 2011 Report Share Posted February 1, 2011 You bought a new vehicle that qualified maybe December 31st, 2009 but didn't pay the sales tax until January 2, 2010. taxbilly Quote Link to comment Share on other sites More sharing options...
grandmabee Posted February 1, 2011 Report Share Posted February 1, 2011 also some people go to a different state with no sales tax and buy a car then when come home and license it in home state 60 days later they have to pay the sales tax. Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted February 1, 2011 Report Share Posted February 1, 2011 In many states, mine included, you have 30 days or more to pay the sales tax on a new car, so it's not that unusual for someone to buy a car in Dec and pay the sales tax in Jan. Quote Link to comment Share on other sites More sharing options...
Tax Prep by Deb Posted February 1, 2011 Report Share Posted February 1, 2011 I hadn't thought about that. Here in CA if you buy a vehicle from a private party you have 10 days, however if you purchase from a dealer, it is included in the contract and paid at the time you take delivery. Thanks for the lesson! Deb! Quote Link to comment Share on other sites More sharing options...
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