IRS Clean fuel deduction.
11-09-05, 06:15 AM
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IRS Clean fuel deduction.
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.
https://www.irs.gov/newsroom/article/...104549,00.html
https://www.irs.gov/newsroom/article/...104549,00.html
11-09-05, 07:22 AM
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I can't wait for an IRS-certified cyclocomputer so I can deduct my 5K+ miles, wo0t! 
11-09-05, 07:29 AM
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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
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
11-09-05, 09:05 AM
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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?
[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?
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Last edited by Eggplant Jeff; 11-09-05 at 09:17 AM.
11-09-05, 09:10 AM
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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.
