I was told I can get a tax deduction with my purchase of a New Vehicle in the fiscal year of 2006.

Does anyone know any information about this?

 

If you are an independent contractor and/or the xB is used mostly for business purposes... sure.

 

yes i have. i inquired about it and filing the loan on your taxes for young people dont benefit us much if at all, since we dont own houses and such (unless u do own a house and have kids) so the irs told me not to even bother with doing it.

 

i don't think it applies to you, since you're probably still a dependent under your parents (being that you're ony 17), and the fact that you dont use the xB for business purposes [unless you really do, then thats another story] haha =P

 

We'll legally the car is under my parents name, and the tax guy told us that when we paid for the car. We were supposed to pay for a "tax" and supposidly we can claim for that "tax". Is that right?

 

well you do pay a sales tax,whether or not you can claim it... i duno...

hell i don't even know why i'm even saying, this woul dbe my first time dealing with taxes so haha, have yet to get my forms to fill out.

 

Vehicle licence fee is tax deductible. It's part of the total registration costs of a vehicle. The other part is county taxes and any other misc stuff you might have such as personalized plates.