The sales tax deduction lets you deduct the state and local sales taxes you’ve paid during the year, but only if you itemize your deductions. If you live in a state with no income tax or made a large ...

Compare what you paid in sales tax to your state and local taxes. Deduct the larger of the two. But there's a catch. Many, or all, of the products featured on this page are from our advertising ...

Question: My wife and I recently purchased two new cars and had to pay over $15,000 in sales tax. Will we be able to deduct the sales tax on our individual income tax return as a federal itemized ...

The so-called SALT deduction lets you deduct either your state and local income taxes or your state and local general sales taxes. On top of that, you may also be allowed to deduct your property taxes ...