MA personal property tax for cars - which line on Schedule A?

Edwards Finance > Personal Budget

Q. Do I report the Massachusetts personal property tax I paid on my car on line 3A (auto registration fee based on the value of the vehicle), or line C (other personal property taxes)? I guess the phrase "registration fee" is throwing me here.

A. -That's going to depend on how the Massachusettes DMV treats its registration fees. They are the ones to ask. Whichever part of the registraion fee is for personal property taxes based on the value goes on that line, and the whichever part of the registration fee is for other personal property taxes, such as one based on vehcile weight. Only personal property taxes based on the value are deductible on federal Schedule A. -It's not a registration fee. It's a tax. Your registration fee is $35 every two years and as of 1/1/03 you don't even get the $5 discount for renewing it online the mail.

Ask Edwards a Finance Question

Other Questions:

On-line money management: worth it?

In your experience, is it really worth the configuration work to set up Quicken accounts, and then use Quicken for personal money management? I'm a programmer by trade, so using the software powerfully isn't an issue. I just wonder if it's wort...

-I am looking for a worksheet template to work out my personal finances i.e monthly bills etcThis may help you out. www.baarns.com/publish/ (Home & Personal Software category)....

I am using TurboTax for the first time and everything seems to be going smoothly, except I am lost on one thing. TurboTax asks me if I had paid any "Personal Property Taxes" during 2003. To me, that includes the $280 in propery taxes I paid on ...

I really must express my dismay at reading some of the vitriolic comments leveled against Michael Scriven, particularly the fairly recent ones by Anne Pemberton. While my personal schedule has allowed me not much more than a glance at the thr...

I'm wondering how others here categorize the money they receive when they sell an item of personal property. In the past I had an income category set up just for such occasions. There's basically no tax implications at the levels I'm talking ab...

Edwards Finance Menu

Ask a Question
About Us / Me
Contact Me
Privacy Policy

Sitemap

My Favorite Sites

PFBlog
Google Finance
Yahoo Finance
Motley Fool
Nveille's Financial Blog
AllFinanceMatters
Free Money Finance
2MillionBlog
The Terror Finance blog

Q&A Subjects