Subject: sales tax?
From: Harriet Schneider
Date: Fri, 14 Jan 2000
If you build a new home, is sales tax on the materials bought to build the home with deductible?
Date: 19 Jan 2000
No, sales taxes are no longer deductible.
You may add the sales tax for materials to build a home to your tax basis for determining the gain or loss when you sell the home.
IRS Circular 230 Disclosure: As required by U.S. Treasury Regulations, you are hereby advised
that any written tax advice contained on this website was
not written or intended to be used (and cannot be used) by any
taxpayer for the purpose of avoiding penalties that may be
imposed under the U.S. Internal Revenue Code.