# Claiming car purchased on your taxes?
**URL:** https://forums.speedlife.net/t/claiming-car-purchased-on-your-taxes/234772
**Category:** NYSpeed Off Topic
**Created:** [February 6, 2014, 11:24am UTC](https://forums.speedlife.net/t/claiming-car-purchased-on-your-taxes/234772 "2014-02-06T11:24:35Z")
**Posts on this page:** 9
**Page:** 2
### Author:  [@SHOtime](https://forums.speedlife.net/u/SHOtime)
#### Post date: [February 10, 2014, 1:06pm UTC](https://forums.speedlife.net/t/claiming-car-purchased-on-your-taxes/234772/21 "2014-02-10T13:06:23Z")
Haha…I’m just going to assume you’re being sarcastic.
---
### Author:  [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)
#### Post date: [February 10, 2014, 8:45pm UTC](https://forums.speedlife.net/t/claiming-car-purchased-on-your-taxes/234772/22 "2014-02-10T20:45:39Z")
Hahahaha i like this guys style! :snky: :plznoirs:
---
### Author:  [@slo\_ride](https://forums.speedlife.net/u/slo_ride)
#### Post date: [February 10, 2014, 9:01pm UTC](https://forums.speedlife.net/t/claiming-car-purchased-on-your-taxes/234772/23 "2014-02-10T21:01:11Z")
> [@theblue](#):
>
> LOL, only if the super pays rent?
The super has to eat and watch HD TV too…he’s the most expensive part of my entire operation
---
### Author:  [@cretinx](https://forums.speedlife.net/u/cretinx)
#### Post date: [February 11, 2014, 7:57am UTC](https://forums.speedlife.net/t/claiming-car-purchased-on-your-taxes/234772/24 "2014-02-11T07:57:32Z")
> [@SHOtime](#):
>
> Jesus, for someone who seems to have a working tax knowledge, writing off mortgage principal seems to be a rather blatant error/fraud. Mortgage interest and taxes should be split between Sch A and Sch E.
>
> All the other items handled are proper as long as the property had shared heat/electric/water.
I guess you’ve never heard of depreciation Mr. tax expert.
---
### Author:  [@SHOtime](https://forums.speedlife.net/u/SHOtime)
#### Post date: [February 11, 2014, 8:03am UTC](https://forums.speedlife.net/t/claiming-car-purchased-on-your-taxes/234772/25 "2014-02-11T08:03:53Z")
> [@cretinx](#):
>
> I guess you’ve never heard of depreciation Mr. tax expert.
Mortgage principal is not the same as depreciable basis.
You may have a general idea of what you’re doing and just have a poor command of the terminology though.
---
### Author:  [@cretinx](https://forums.speedlife.net/u/cretinx)
#### Post date: [February 11, 2014, 8:32am UTC](https://forums.speedlife.net/t/claiming-car-purchased-on-your-taxes/234772/26 "2014-02-11T08:32:38Z")
> [@SHOtime](#):
>
> Mortgage principal is not the same as depreciable basis.
>
> You may have a general idea of what you’re doing and just have a poor command of the terminology though.
That’s why someone else does my taxes.
---
### Author:  [@slo\_ride](https://forums.speedlife.net/u/slo_ride)
#### Post date: [February 11, 2014, 8:33am UTC](https://forums.speedlife.net/t/claiming-car-purchased-on-your-taxes/234772/27 "2014-02-11T08:33:21Z")
Maybe he has a 27.5 year mortgage on the home only…so it’s all the same right?
---
### Author:  [@SHOtime](https://forums.speedlife.net/u/SHOtime)
#### Post date: [February 11, 2014, 9:03am UTC](https://forums.speedlife.net/t/claiming-car-purchased-on-your-taxes/234772/28 "2014-02-11T09:03:40Z")
> [@slo ride](#):
>
> Maybe he has a 27.5 year mortgage on the home only…so it’s all the same right?
Haha…true. That also would assume a 100% mortgage (or more accurately a 90% mortgage attributing 10% of purchase price to the land).
---
### Author:  [@91MR2](https://forums.speedlife.net/u/91MR2)
#### Post date: [February 11, 2014, 11:13am UTC](https://forums.speedlife.net/t/claiming-car-purchased-on-your-taxes/234772/29 "2014-02-11T11:13:12Z")
> [@cretinx](#):
>
> That’s why someone else does my taxes.
X2.
[Previous page](https://forums.speedlife.net/t/claiming-car-purchased-on-your-taxes/234772.md?page=1)