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State Sales Tax Deductions

 
 
Cranky One
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      02-27-2005, 03:12 PM
1. Do I need to have the actual receipt showing the sales
tax deduction or can I substitute a check or charge card
bill showing the store/location and the amount?

2. What if the receipt doesn't show sales tax ? I had a
home improvement project and the receipt only shows the
total cost.

Thaks for the help !

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MTW
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      02-28-2005, 06:59 PM
Cranky One wrote:

> 1. Do I need to have the actual receipt showing the sales
> tax deduction or can I substitute a check or charge card
> bill showing the store/location and the amount?


You need receipts with the tax itemized. Otherwise you
should use the sales tax tables.

> 2. What if the receipt doesn't show sales tax ? I had a
> home improvement project and the receipt only shows the
> total cost.


You need receipts with the tax itemized. Otherwise you
should use the sales tax tables.

Note that if the tax was not itemized on the contractor's
original invoice, then chances are you are not entitled to
deduct it (because the contractor, not you, is deemed to be
the "taxpayer" of the sales tax in that case).

MTW

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A.G. Kalman
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      02-28-2005, 07:38 PM
Cranky One wrote:

> 1. Do I need to have the actual receipt showing the sales
> tax deduction or can I substitute a check or charge card
> bill showing the store/location and the amount?
>
> 2. What if the receipt doesn't show sales tax ? I had a
> home improvement project and the receipt only shows the
> total cost.


If you want to use the "actual receipt" method, you have to
a receipt that shows the amount of sales tax paid.

--
Alan
http://taxtopics.net

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Paul A Thomas
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      02-28-2005, 07:38 PM
"Cranky One" <(E-Mail Removed)> wrote

> 1. Do I need to have the actual receipt showing the sales
> tax deduction or can I substitute a check or charge card
> bill showing the store/location and the amount?


I think the Regs say you need receipts that ~show~ the sales
tax paid.

> 2. What if the receipt doesn't show sales tax ?


Then you can't prove you paid any sales tax.

> I had a home improvement project and the receipt
> only shows the total cost.


Again, it's going to be hard to prove the tax was paid if
the receipt doesn't indicate any tax.

--
Paul A. Thomas, CPA
Athens, Georgia
taxman at negia.net

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Harlan Lunsford
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      02-28-2005, 07:57 PM
Cranky One wrote:

> 1. Do I need to have the actual receipt showing the sales
> tax deduction or can I substitute a check or charge card
> bill showing the store/location and the amount?
>
> 2. What if the receipt doesn't show sales tax ? I had a
> home improvement project and the receipt only shows the
> total cost.


You'll need a complete receipt showing the tax separtely
when/if you get audited. And when/if you do, the auditor
will not accept that total. Or at least shouldn't.

ChEAr$,
Harlan Lunsford, EA n LA

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DSF
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      03-03-2005, 07:49 AM
Something else to add to that issue is gas receipts. I have
not seen any gas receipts that show how much tax was paid.
In Tennessee where I live 21.4 cents per gallon is tax. The
tax is then split three ways with some going to TDOT (TN
Dept Of Trans.) and the rest going to state and local.

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Arthur L. Rubin
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      03-03-2005, 11:56 PM
DSF wrote:

> Something else to add to that issue is gas receipts. I have
> not seen any gas receipts that show how much tax was paid.
> In Tennessee where I live 21.4 cents per gallon is tax. The
> tax is then split three ways with some going to TDOT (TN
> Dept Of Trans.) and the rest going to state and local.


Not all of that is "sales tax". However, at least in
California, some of it is. I suppose this is a minor
recalculation for those who use the "actual" method of auto
expenses.

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Phil Marti
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      03-04-2005, 12:34 AM
"DSF" <(E-Mail Removed)> wrote:

> Something else to add to that issue is gas receipts. I have
> not seen any gas receipts that show how much tax was paid.
> In Tennessee where I live 21.4 cents per gallon is tax. The
> tax is then split three ways with some going to TDOT (TN
> Dept Of Trans.) and the rest going to state and local.


Most of that is not general sales tax, it's product specific
excise tax, which is not deductible.

--
Phil Marti
Clarksburg, MD

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Phoebe Roberts, EA
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      03-04-2005, 12:53 AM
DSF wrote:

> Something else to add to that issue is gas receipts. I have
> not seen any gas receipts that show how much tax was paid.


Gas tax isn't sales tax, though. At least not in my state.

Phoebe

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Thomas Healy
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      03-04-2005, 12:53 AM
"DSF"
<(E-Mail Removed)> wrote:

> Something else to add to that issue is gas receipts. I have
> not seen any gas receipts that show how much tax was paid.
> In Tennessee where I live 21.4 cents per gallon is tax. The
> tax is then split three ways with some going to TDOT (TN
> Dept Of Trans.) and the rest going to state and local.


Gas tax isn't deductible, because it's an excise, not a
general sales, tax.

--
Tom Healy, CPA
Boulder, CO
Web: http://www.tomhealycpa.com

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