02-17-2010, 12:27 PM
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#5 (permalink)
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Base Member
Join Date: Feb 2009
Location: Bay Area
Posts: 18
Drives: Z
Rep Power: 18
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Quote:
Originally Posted by Cyberium
I filed my taxes a couple of weeks ago...
I bought my car for $37000 and the tax was around $2600. I don't know the exact amount because I did my taxes via Turbotax but it looked like my refund went up around 1200-1500 dollars.
For some reason I was under the assumption that we would we receiving the entire tax amount back that definitely was not the case. In any event... expect to receive at least 1000 dollars back.
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It all depends on the person's earnings in 2009 and it's a tax deduction, not a credit so basically you just pay less taxes to Uncle Sam because they deduct your car sales tax amount from your earnings. Everything was explained on the other thread and basically I would have saved maybe $500 had I bought a Z in 2009.
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