Commuting - IRS Clean fuel deduction.

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jbone
11-09-05, 05:15 AM
Unfortunately the deduction is only for hybrid vehicles, but at least it's a step in the right direction and perhaps deductions for bike commuting will soon follow.

http://www.irs.gov/newsroom/article/0,,id=104549,00.html

oboeguy
11-09-05, 06:22 AM
I can't wait for an IRS-certified cyclocomputer so I can deduct my 5K+ miles, wo0t! ;)
Jay H
11-09-05, 06:29 AM
Well, you don't actually need to drive your hybrid car to take the federal tax credit, you probably just need proof of purchase. So likely the IRS no-fuel deduction :) would imply just proof that you bought a bike and the related gear for commuting with it. Of course, how would the IRS go about believing you that you are actually commuting on it is another problem.

Jay

Eggplant Jeff
11-09-05, 08:05 AM
You can convert a vehicle as well. I took the credit when I converted my camaro to propane. Hmmm... wonder if I can take it again? I junked the camaro and put the propane stuff on my truck.

[edit] Hmmmm I can't seem to find anything about converting a vehicle to clean fuel. I wonder if they removed that section this year?
Bekologist
11-09-05, 08:10 AM
I think this year the feds stopped the conversion tax credit, it is only for the new cars original purchaser listed above....at least this is my understanding of the new, greater restrictions on alternative fuel vehicle tax credits. No more tax credits for the french fry oil burning hippies out there.