Comments on: Can taxes from my groceries receipts be included when I file my tax? http://www.stop42colorado.org/can-taxes-from-my-groceries-receipts-be-included-when-i-file-my-tax/ Taxes in Colorado | Colorado Tax Tea Party | Colorado Jobs| Colorado Homes Wed, 27 Jan 2010 04:53:41 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Judy http://www.stop42colorado.org/can-taxes-from-my-groceries-receipts-be-included-when-i-file-my-tax/comment-page-1/#comment-34 Judy Fri, 22 Feb 2008 01:27:01 +0000 http://www.stop42colorado.org/can-taxes-from-my-groceries-receipts-be-included-when-i-file-my-tax/#comment-34 If you itemize (schedule A) you have a choice of deducting state and local income tax, or sales tax. If you choose sales tax, there is a table for your state, by income range by family size, that you can use, or you can deduct actual amounts that you have the receipts for. If you use the table, you can add to that amount the sales tax you paid on a car, plane or boat. If you itemize (schedule A) you have a choice of deducting state and local income tax, or sales tax. If you choose sales tax, there is a table for your state, by income range by family size, that you can use, or you can deduct actual amounts that you have the receipts for. If you use the table, you can add to that amount the sales tax you paid on a car, plane or boat.

]]> By: just me http://www.stop42colorado.org/can-taxes-from-my-groceries-receipts-be-included-when-i-file-my-tax/comment-page-1/#comment-33 just me Thu, 21 Feb 2008 23:18:32 +0000 http://www.stop42colorado.org/can-taxes-from-my-groceries-receipts-be-included-when-i-file-my-tax/#comment-33 If you itemize you can deduct either your income tax or sales tax paid during the year. Even if you elect to deduct the sales tax you paid you don't have to save all of your receipts. You can save them or you can use a table the IRS has that shows the average amount of sales tax a taxpayer who has the amount of income you have would spend. Also, if you elect sales tax you can add tax from certain large purchases, such as SUV, RV, boat, offroad vehicles, etc. You have to look at both and see which is largest. If you itemize you can deduct either your income tax or sales tax paid during the year. Even if you elect to deduct the sales tax you paid you don’t have to save all of your receipts. You can save them or you can use a table the IRS has that shows the average amount of sales tax a taxpayer who has the amount of income you have would spend. Also, if you elect sales tax you can add tax from certain large purchases, such as SUV, RV, boat, offroad vehicles, etc.

You have to look at both and see which is largest.

]]> By: Sumit P http://www.stop42colorado.org/can-taxes-from-my-groceries-receipts-be-included-when-i-file-my-tax/comment-page-1/#comment-32 Sumit P Thu, 21 Feb 2008 23:17:26 +0000 http://www.stop42colorado.org/can-taxes-from-my-groceries-receipts-be-included-when-i-file-my-tax/#comment-32 If you are itemizing, you have the option of claiming the sales tax paid through the year or state income tax witheld from your w2. For most people, claiming the state income tax is usually higher/better. But if you live in one of the states that does not have income tax, you could benefit from the sales tax deduction. Hope this helps Sumit If you are itemizing, you have the option of claiming the sales tax paid through the year or state income tax witheld from your w2. For most people, claiming the state income tax is usually higher/better. But if you live in one of the states that does not have income tax, you could benefit from the sales tax deduction.

Hope this helps

Sumit

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