From TaxAlmanac, A Free Online Resource for Tax Professionals
From TaxAlmanac
Discussion Forum Index --> Tax Questions --> Hybird Tax Deduction
Lois (talk|edits) said:
| 22 September 2006
|
| My client leased a Lexus in 2005 that qualifies for the deduction. However does a lease count as a purchase for this deduction? The salesperson, of course, told him it was available.
|
Sandysea (talk|edits) said:
| 22 September 2006
|
| Yes, it had to be acquired for use or lease by the taxpayer. Leases are included in the wording from IRS...
|
Taxguy1024 (talk|edits) said:
| 25 September 2006
|
| I know that the credit available beginning in 2006 specifically includes leased vehicles, but I don't remember reading where the qualified clean fuel deduction for 2003-2005 included leased vehicles....guess I just missed that...
|
To join in on this discussion, you must first
log in.