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Go to Federal > Income & Expenses. Scroll down to See all income. ... Answer Yes to Did you have any self-employment income or expenses? Continue through the interview to enter your business information.

To enter this transaction in TurboTax, log into your tax return (for TurboTax Online sign-in, click Here and click on "Take me to my return") type "Sales Tax Deduction" in the search bar then select "jump to Sales Tax Deduction". TurboTax will guide you in entering this information.

Can I deduct sales tax paid in Illinois on a vehicle purchased from a dealer. Yes, when filing your return you can choose to either deduct your income tax or sales tax. Most people deduct income tax, but in the case that you made several large purchases you will probably receive a larger refund by claiming sales tax.

Form RUT-75 is generally obtained when you license and title your aircraft or watercraft at the appropriate state agency, i.e., the Illinois Department of Transportation (for aircraft) or the Illinois Department of Natural Resources (for watercraft). Do not make copies of the form prior to completing.

Buying a car for personal or business use may have tax-deductible benefits. The IRS allows taxpayers to deduct either local and state sales taxes or local and state income taxes, but not both. If you use your vehicle for business, charity, medical or moving expenses, you could deduct the costs of operating it.

Actual Car or Vehicle Expenses You Can Deduct Qualified expenses for this purpose include gasoline, oil, tires, repairs, insurance, tolls, parking, garage fees, registration fees, lease payments, and depreciation licenses.

Yes, prepaid taxes (both Federal and State) are entered under Deductions & Credits >> Estimates and Other Taxes Paid >> Estimates. The easiest way to find this section of TurboTax is to use the Search box at the top right side of the TurboTax header.

The IRS allows you to deduct sales tax you paid on a car purchase by itemizing on Schedule A on Form 1040. If you don't itemize, you can't deduct sales tax. You may deduct the tax whether it's charged on a new or used car, and whether you buy from a car dealer or a private party.

Tax Write-Off of Car Purchase If you buy a car that you intend to use for business, you can write off some of the purchase price with the federal Section 179 deduction. You usually write off business purchases through depreciation, but Section 179 allows you to deduct the entire amount upfront.