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Buy A New Car, Write-Off Taxes On 2009 Return

Buy A New Car, Write-Off Taxes On 2009 Return

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So, news has come in confirming that the IRS is going to offer a tax rebate on new cars purchased between now and January 1, 2010. Here are the details:

  • You can deduct state and local sales and excise taxes on the purchase of a new car;
  • Limited to $49,500 of the purchase price for a new car, “light truck,” or motor home or motorcycle;
  • Your modified adjusted gross income must be below $125,000 for individual filers and $250,000 for joint filers; and
  • Deductions must be taken on 2009 return.

Via IRS

Comments (3)

  1. Snakey
    Mar 31, 2009

    “… tolerable; but not handsome enough to tempt me.”

  2. Mar 31, 2009

    BAHAHA

    The Elizabeth Bennet of tax write-off deals.

  3. Mar 31, 2009

    I was kind of thinking the same thing–you can write off the taxes, but I would probably buy a used car anyway, so it’s not really a deal.

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