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Old 03-10-2010, 01:26 PM   #1
ciao_strada
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Motorcycle Tax Deduction

Ive read on the internet that from a bill Congress passed last year (economic stimulus i guess), you can deduct your sales tax from a new motorcycle purchase on your tax return.

Anyone know if you can do that for a used bike bought from a third party (no dealership)? Thanks.
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Old 03-10-2010, 01:35 PM   #2
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i duuno about for used bike, but i got it for my new bike and truck (flexfuel)
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Old 03-10-2010, 02:06 PM   #3
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http://www.motorcycle-usa.com/2/2805...n-Details.aspx
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Old 03-10-2010, 02:18 PM   #4
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whatever, i still dont like obama.
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Old 03-10-2010, 02:26 PM   #5
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If you payed taxes it a deduction.
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Old 03-10-2010, 02:59 PM   #6
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whatever, i still dont like obama.
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Old 03-10-2010, 03:16 PM   #7
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Its just a deduction and only worthwhile if you can exceed the standard deduction for your tax bracket. For me, I didn't make the cut but thats only because a donation I made in 9/09 wasn't posted til 2/10 which I am plenty about because now the donation is for 2010 taxes :o (how does a group wait 5 months to deposit a donation check? )
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Old 03-10-2010, 03:43 PM   #8
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No mo monies for them. They must not really need it.
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Old 03-10-2010, 04:14 PM   #9
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The American Recovery and Reinvestment Act permits taxpayers to take a deduction for state and local sales taxes paid in 2009 (after February 17th) on the purchase of new motorcycles. If you do not itemize, you will still benefit as these taxes increase your standard deduction. (There are purchase price and income restrictions.)

So, to the OP, sorry, but no, you can't use this deduction if you purchased a used bike.
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Old 03-10-2010, 11:00 PM   #10
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thanks yall
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Old 03-11-2010, 12:44 AM   #11
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aww man, so its just on new bikes I thought it was for new & used
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Old 03-11-2010, 10:01 AM   #12
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Thanks to TurboTax and that deduction, I was able to buy my new Yoshi R-77 carbon exhaust woo hoo me Yea its only for new bikes though, but still....woo hoo me
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