What do I do with form st-556?

Jonny
Jonny Member Posts: 1 Newcomer
in Filing my taxes

have this paper from the dealer from when I got my car in Nov. But don’t see anywhere to put it on my taxes

Answers

  • MatthewD
    MatthewD FreeTaxUSA Admin, FreeTaxUSA Agent Posts: 901 image
    Hi,

    Generally speaking, paperwork from a car dealer isn't something you'll enter on your tax return. Most car purchases themselves aren't tax deductible.

    Form ST-556 (Sales Tax Transaction Return) is used to report and pay sales tax on items that must be titled or registered, such as vehicles, boats, or trailers. Generally, the dealership completes this form to report the sales tax, and you should keep it for your records, using the information to claim a sales tax deduction on your federal tax return. See the Itemized Deduction section for Taxes Paid. Enter your sales tax paid and the software will use the best option for your Standard deduction or Itemized deduction.

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