Go Back   iRV2 Forums > iRV2.com COMMUNITY FORUMS > iRV2.com General Discussion
Click Here to Login
Join iRV2 Today

Mission Statement: Supporting thoughtful exchange of knowledge, values and experience among RV enthusiasts.
Reply
  This discussion is proudly sponsored by:
Please support our sponsors and let them know you heard about their products on iRV2
 
Thread Tools Search this Thread Display Modes
 
Old 01-06-2014, 10:04 AM   #1
Senior Member
 
Join Date: Apr 2010
Location: Western NY
Posts: 2,798
Sales Tax Deduction in 2013 and 2014

Just a heads up for anyone who bought an RV in 2013. Remember you can take the sales tax as an itemized deduction if it is more than the state income tax you paid. That would count the sales tax on the RV and the sales tax from the IRS tables for your income and locality.

If you didn't buy in 2013 and were looking to buy in 2014 you may be out of luck on the sales tax deduction. As of now Congress did not renew the deduction for 2014 so it would not be deductible on your 2014 return unless they change the law for 2014. If they do change the law it would probably be changed retroactively to January 1.

Ed
__________________

__________________
2011 Berkshire 390bh (traded) 2018.5 Entegra Aspire 44R on order
wnytaxman is offline   Reply With Quote
Join the #1 RV Forum Today - It's Totally Free!

iRV2.com RV Community - Are you about to start a new improvement on your RV or need some help with some maintenance? Do you need advice on what products to buy? Or maybe you can give others some advice? No matter where you fit in you'll find that iRV2 is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with other RV owners, see fewer ads, upload photographs, create an RV blog, send private messages and so much, much more!

Old 01-06-2014, 10:43 AM   #2
Member
 
Join Date: Oct 2013
Location: West Tennessee
Posts: 91
Thanks, I did buy back in November.
I was told by the dealer I could take off the sales tax and also an interest paid. What about depreciation? Can you do that?
Always need all the tax help I can get.
__________________

__________________
DannyA is offline   Reply With Quote
Old 01-06-2014, 10:49 AM   #3
Senior Member
 
Join Date: Apr 2010
Location: Western NY
Posts: 2,798
To take depreciation you would have to have some business purpose for the unit. For example I have one guy who works the gas fracking fields in PA. We are depreciating his unit because there are no hotels in the areas he is working for his temporary job assignment. The business use can be established but it can be a hard sell to an IRS agent.

Ed
__________________
2011 Berkshire 390bh (traded) 2018.5 Entegra Aspire 44R on order
wnytaxman is offline   Reply With Quote
Old 01-06-2014, 02:05 PM   #4
Senior Member
 
Join Date: Apr 2013
Location: rancho mirage CA
Posts: 170
deductions

not sure if I understand. I bought in 2013 in CA paid sales tax close to $12,000. I think you are saying that it might be a qualified deduction on my Fed Tax but what does what I paid in State Tax have to do with whether it is deductible or not?

Jim
__________________
jmoffat is offline   Reply With Quote
Old 01-06-2014, 03:13 PM   #5
Registered User
 
Join Date: Feb 2013
Posts: 472
We dont have state income tax. Can I claim my sales tax on my 2013 purchase?
__________________
Fl_Richard is offline   Reply With Quote
Old 01-06-2014, 05:55 PM   #6
Member
 
Gandalara's Avatar
 
Join Date: Aug 2013
Location: SoCal desert
Posts: 66
Quote:
Originally Posted by jmoffat View Post
not sure if I understand. I bought in 2013 in CA paid sales tax close to $12,000. I think you are saying that it might be a qualified deduction on my Fed Tax but what does what I paid in State Tax have to do with whether it is deductible or not?

Jim
IRS Sales Tax Deduction Calculator
If you file a Form 1040, and itemize deductions on Schedule A, you have the option of claiming either state and local income taxes or state and local sales taxes. (You can’t claim both.)
__________________
Gandalara is offline   Reply With Quote
Old 01-06-2014, 06:48 PM   #7
Senior Member
 
Join Date: Apr 2010
Location: Western NY
Posts: 2,798
Quote:
Originally Posted by Fl_Richard View Post
We dont have state income tax. Can I claim my sales tax on my 2013 purchase?
If you itemize your deductions on Schedule A of your 1040 you can take the deduction for the sales tax paid on your RV purchase in 2013 as well as the sales tax allowed by the chart. It can be a nice tax saving. I just hope Congress brings it back in 2014.
__________________
2011 Berkshire 390bh (traded) 2018.5 Entegra Aspire 44R on order
wnytaxman is offline   Reply With Quote
Old 01-06-2014, 06:51 PM   #8
Senior Member
 
Join Date: Apr 2010
Location: Western NY
Posts: 2,798
Quote:
Originally Posted by jmoffat View Post
not sure if I understand. I bought in 2013 in CA paid sales tax close to $12,000. I think you are saying that it might be a qualified deduction on my Fed Tax but what does what I paid in State Tax have to do with whether it is deductible or not?

Jim
Jim, you can take the deduction for whichever tax is higher. For example, if you paid $12,000 in sales tax and the chart gives you another $2,000 of sales tax for a total of $14,000 your state income tax paid would have to be less than $14,000 for you to take the sales tax deduction. You get one or the other, but not both. Obviously you would want the higher deduction to save the most in taxes.
__________________
2011 Berkshire 390bh (traded) 2018.5 Entegra Aspire 44R on order
wnytaxman is offline   Reply With Quote
Old 01-06-2014, 07:07 PM   #9
Registered User
 
Join Date: Feb 2013
Posts: 472
Quote:
Originally Posted by wnytaxman View Post

If you itemize your deductions on Schedule A of your 1040 you can take the deduction for the sales tax paid on your RV purchase in 2013 as well as the sales tax allowed by the chart. It can be a nice tax saving. I just hope Congress brings it back in 2014.
Awesome! Thanks sooo much!
__________________
Fl_Richard is offline   Reply With Quote
Old 01-06-2014, 07:13 PM   #10
Senior Member
 
Join Date: Apr 2010
Location: Western NY
Posts: 2,798
Quote:
Originally Posted by Fl_Richard View Post
Awesome! Thanks sooo much!
Cool. You are welcome. I can't help those with mechanical problems but this is one area I can help.

Ed
__________________
2011 Berkshire 390bh (traded) 2018.5 Entegra Aspire 44R on order
wnytaxman is offline   Reply With Quote
Old 01-06-2014, 07:27 PM   #11
Junior Member
 
Bears Den's Avatar
 
Join Date: Aug 2013
Location: Denver, Colorado
Posts: 26
That's great info! Thanks!
__________________
Annette & Tom
03 Travel Supreme 40DS01 400 hp Cummins
"Kermit" the Toad ('01 Ford Ranger 4x4) w/Roadmaster Sterling.
Bears Den is offline   Reply With Quote
Old 01-06-2014, 09:06 PM   #12
"Formerly Diplomat Don"
 
Dutch Star Don's Avatar
 
Newmar Owners Club
Join Date: Apr 2005
Location: Moorpark, Ca.
Posts: 9,278
"wnytaxman"...good info again.

"jmoffat"........as stated, if the tax for the MH is more than the standard deduction, you will use the MH tax. Remember though, the standard deduction is designed to cover what most people would pay in sales tax for the year. If you bought the MH, you probably bought a bunch of other stuff that you should add to the sales tax you're claiming on the MH. Remember, the standard deduction for other stuff you bought won't be used since the MH is higher, but the sales tax for the other stuff should now be added to the MH tax.

When I bought my MH in 2005, I claimed the MH tax and then I went back and added up all of the sales tax I paid for everything I bought in 2005 ( the stuff that would have typically fallen under the standard deduction). You could easily have another $3k in sales tax to go with the $12K you paid for the MH. Hope this makes sense.
__________________
Don & Mary
2014 Newmar Dutch Star - All Electric - 450 ISL
2016 GMC Canyon 4WD Crew Cab
Dutch Star Don is offline   Reply With Quote
Old 01-08-2014, 08:57 AM   #13
Senior Member
 
Join Date: Apr 2010
Location: Western NY
Posts: 2,798
Don,

Thanks for the compliment.

Just to clarify the deduction, you get the table amount AND the sales tax paid on vehicle purchases. We have also taken the sales tax on home construction also when someone has constructed a new home or had a major remodel.

Ed
__________________
2011 Berkshire 390bh (traded) 2018.5 Entegra Aspire 44R on order
wnytaxman is offline   Reply With Quote
Old 01-08-2014, 10:15 PM   #14
Senior Member
 
VAParrothead's Avatar


 
Winnebago Owners Club
Mid Atlantic Campers
Join Date: Oct 2013
Location: Home Base: Northern Virginia
Posts: 285
Quote:
Originally Posted by wnytaxman View Post
Cool. You are welcome. I can't help those with mechanical problems but this is one area I can help.

Ed
Only slightly related ... Don't want to write off the RV on our federal taxes, but can I still write off the mileage attributable to business as I do for my personal auto used for business (I own my own business and travel is to and from industry conferences in other cities)? And if so, can I claim 56.5 cents a mile for my car and actual expenses for my RV? Or would I have to use the same accounting for both vehicles?

Not that I'm asking for free tax advice ;-) ... but you *did* seem to kinda offer.

Thanks in advance if you able (and willing).

And, yes ... what an excellent post!
__________________

__________________
2004 Itasca Spirit -- The Darlin' Dot II
A big fan of Jimmy Buffett, The Boston Red Sox & The Open Road
"It's 106 miles to Chicago, we've got a full tank of gas, half a pack of cigarettes, it's dark ... and we're wearing sunglasses."
VAParrothead is offline   Reply With Quote
Reply

Tags
sale



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
2014 Cornerstone on new/upgraded K3? harleyman88 Jayco Owner's Forum 11 02-04-2014 07:54 PM
Most Popular 2014 Palazzo Exterior Color? Resist Palazzo Motorhomes 10 09-22-2013 02:13 PM
Skinny Winnie Rally Held September 9-12, 2013 DriVer Winnebago International Travelers Club (WIT) 0 09-16-2013 08:46 PM
Winnebago Industries Towables Introduces the New 2014 Sunnybrook Raven DriVer RV Industry Press 0 08-28-2013 03:56 PM
Best Selling Motorhome Manufacturer Unveils New 2014 Class A Motor Home DriVer RV Industry Press 2 08-21-2013 09:13 PM

» Virginia Campgrounds

Reviews provided by


Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -6. The time now is 01:57 AM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.