A SELF EMPLOYED TAXPAYER USES HIS CAR 60 FOR BUSINESS HE PAI

A SELF EMPLOYED TAXPAYER USES HIS CAR 60% FOR BUSINESS. HE PAID 100.00 FOR PERSONAL PROPERTY TAX ON THE CAR. PROPERTY TAX BASED ON VALUE OF THE CAR. HOW MUCH AMOUNT DEDUCT ON SCHEDULE A 0 40 60 100

Solution

Property tax paid on car used for personal purpose can be claimed as deduction on Schedule A Amount of deduction on Schedule A= 100*40% = $40