Overhaulin'

If I leased a new car in 2009 can I claim it on my 2009 taxes?

It is asking me the model name of the car and it is asking me how much is the car, but I am not sure if I have to say how much I paid for it or how much is the value of the car. Can someone help me please. Thanks!

Public Comments

1. You can claim the sales tax on a leased vehicle as a major purchase if you itemize and are using the sales tax deduction instead of the state income tax deduction. You cannot claim the New Car Sales Tax deduction for a leased vehicle. This is a 2009 only deduction which doesn't require that you itemize. You cannot claim lease payments, insurance, gas, etc. for a personal use vehicle. For the amount to enter, look at your lease agreement and enter the total before sales tax.
2. Unless the vehicle is used for business there's no deduction for leasing a car. If you're asking about the special sales tax deduction for the PURCHASE of a new vehicle between 2/9/2009 and 12/31/2009 then you are not eligible for that. You didn't purchase a vehicle.