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Using Sales Tax deduction
Old 03-24-2010, 08:42 AM   #1
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Using Sales Tax deduction

In 2009, there was the option of deducting Sales Taxes instead of State/Local taxes if the former was greater. This has not yet been renewed for 2010, but I've read that it may.

For those already ER'd or Semi-ER'd, do you keep track of sales taxes and use this deduction? Does the sales tax paid exceed your state income tax?

I have just started keeping track of Sales taxes paid and find that it is quite a bit of work. I have to 'split' every transaction in Quicken & then keep the receipts for the records.

Any tips to make this easier?

Thank you.

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Old 03-24-2010, 09:33 AM   #2
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I keep track of everything and don't know of a way to make the process "easier." However, since we are not consumers in any real sense, our actual Sales Tax expenditures are only about a third of the State/Local taxes allowed. (The one exception was the year we purchased the RoadTrek.)
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