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SailBoat registration fee deduction?
Nostrebor asked:
Can I deduct my registration fee for my 32′ boat? I know I can deduct the sales tax, and it’s paid in full. But I had to register it and can I deduct that?
I do not know how to tell what portion is PP tax and what is not…
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Can I deduct my registration fee for my 32′ boat? I know I can deduct the sales tax, and it’s paid in full. But I had to register it and can I deduct that?
I do not know how to tell what portion is PP tax and what is not…
Create a video blog…instantly.
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Only if part of the registration fee is a personal property tax based upon the value of the boat. If it’s based upon size, displacement, or any other means than value it’s not deductible.
Only that portion of the fee that represents the PP tax is deductible.
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Only if there’s a personal property tax that’s listed separataly, then you could deduct that part.