Mexico IVA taxes

[Neal]

Anyone know if it's possible to claim a US tax deduction for IVA tax
(similar to VAT in EU) paid in Mexico?
If so, how and where on which form(s)?

Thanks.
Neal

[Shyster1040]

""Anyone know if it's possible to claim a US tax deduction for IVA tax
(similar to VAT in EU) paid in Mexico? If so, how and where on which
form(s)?""

Depends on what and why the tax was paid.

[Neal]

"Shyster1040" <Shyst...@nospamhotmail.com> wrote in
news:80a961aa5920c6de...@localhost.talkabouttaxes.com:

IVA is charged on nearly every purchase in Mexico (gas (state monopoly),
some food, clothes, electronics, cable TV, phone, etc.).

[ed]

On Apr 2, 8:50 am, Neal <nospam...@please.com> wrote:
> "Shyster1040" <Shyster1...@nospamhotmail.com> wrote innews:80a961aa5920c6de...@localhost.talkabouttaxes.com:

>
> > ""Anyone know if it's possible to claim a US tax deduction for IVA tax
> > (similar to VAT in EU) paid in Mexico? If so, how and where on which
> > form(s)?""
>
> > Depends on what and why the tax was paid.
>
> IVA is charged on nearly every purchase in Mexico (gas (state monopoly),
> some food, clothes, electronics, cable TV, phone, etc.).

Shyster didn't ask what the IVA was. He asked what you paid it FOR.
WHAT DID YOU BUY? (and that's just for starters)

ed

[Neal]

"ed" <edco...@sbcglobal.net> wrote in
news:1175527243.4...@d57g2000hsg.googlegroups.com:

Sorry, perhaps it wasn't obvious enough. Let me spell it out a little more.

And as I said, nearly everything has IVA applied, and I listed a number of
things I paid it FOR. Why? Well, like anyone else living here, I buy food,
gas, services such as TV and phone/DSL, DVDs at the store, etc. (Is that
enough examples?) It's not like you have a choice to pay it or not.

I recall after trips to the EU, it was possible to apply for a VAT refund.
I'm hoping for something similar with the IVA or a method allowing a
deduction on my US taxes.

[Shyster1040]

""Sorry, perhaps it wasn't obvious enough. Let me spell it out a little
more.

And as I said, nearly everything has IVA applied, and I listed a number of
things I paid it FOR. Why? Well, like anyone else living here, I buy food,
gas, services such as TV and phone/DSL, DVDs at the store, etc. (Is that
enough examples?) It's not like you have a choice to pay it or not.

I recall after trips to the EU, it was possible to apply for a VAT
refund.

I'm hoping for something similar with the IVA or a method allowing a
deduction on my US taxes.""

Then it's merely a species of ordinary sales tax, in which case you cannot
deduct the taxes for US federal income tax purposes unless the payment
related to your trade or business (e.g., you're a trucker who makes
pickups and deliveries in Mexico, and you buy gas in Mexico and pay IVA on
that gas - the IVA is part of your cost of doing business and is a
deductible business expense).

In particular, IVA paid on purchases for personal consumption are not
going to be deductible.

[Neal]

"Shyster1040" <Shyst...@nospamhotmail.com> wrote in
news:9fecaa31cba04328...@localhost.talkabouttaxes.com:

> In particular, IVA paid on purchases for personal consumption are not
> going to be deductible.
>

*sigh* That's what I was afraid of, but hoped for something else.

Thanks for the information.