Question about Vehicle Credit for Golf Carts

[WhiteOleander]

Client can purchase and pay for the golf cart that qualifies for the vehicle credit in 2009. However, due to the increased demand for these carts because of this credit, the dealer can't deliver the cart until sometime early 2010.

Since he doesn't actually take possession until 2010, is he entitled to the credit on his 2009 return? Is the contolling factor when he purhased and paid for it or when he takes delivery?

Anyone have any idea?

[JohnH]

Does this help?

http://www.irs.gov/newsroom/article/0,,id=215521,00.html

Looks like IRS says the person must have title to the vehicle under state law, but says nothing about when it's placed in service.

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I also ran across this while looking up the answer, so I just had to post the link even though it has nothing to do with your question. At first I thought it was a spoof, (especially when I saw the extension cord), but I finally realized he is serious after reading the info. Wonder what happens if he drives that thing in the rain...

http://www.solarcarandtractor.com/Golf_Cart.html

[Kram BergGold]

Are you sure it qualifies

At an NCPE conference I think they said golf carts don't qualify for this credit. I am not certain I am quoting them correctly but I suggest you research this to be sure a gold cart qualifies.

[erchess]

Another Thread On This

http://www.thetaxbook.com/forums/showthread.php?t=11611&highlight=golf+cart+vehicle+credit

I personally question whether anyone is going to make or buy a street legal golf cart.

[AJsTax]

they are available!

I personally question whether anyone is going to make or buy a street legal golf cart.

Global Electric Motorcar makes several models, I have driven one. they are amazing within their scope. The company claims they are eligible for the tax credit. this is the wave of the future!!!! ;-)

http://www.gemcar.com/

[JohnH]

Yes, there are numerous companies who make street legal golf carts. You can't drive them on the interstate, but they can be driven on local roads with restrictions. You see them all over the place in resort areas.

[AZ-Tax]

I assume we are talking about electric golf carts?

How much is the credit and is it a refundable credit? If not can the credit be carried forward?

[AZ-Tax]

I just found my answers....deregard my questions.

Thanks to reading my post

[JohnH]

Is this where you found your answer?
It loooks fairly comprehensive...

http://www.irs.gov/businesses/article/0,,id=214841,00.html

[WhiteOleander]

Thank you all for your input. Client says he has the papers showing it is eligible for the credit.

So, time will tell...................................

[Zee]

Well...I'll be darned. I'd have never thought electric cars that are essentially golf carts would qualify for a tax credit. I wonder what lobbyist/legislator pushed for this credit? But...purchaser's better hurry, it appears the credit ends 12/31/09.

[Black Bart]

Crazy credits

Well...I'll be darned. I'd have never thought electric cars that are essentially golf carts would qualify for a tax credit. I wonder what lobbyist/legislator pushed for this credit? But...purchaser's better hurry, it appears the credit ends 12/31/09.

I couldn't hardly believe it either (still don't want to risk recommending it), but look at the IRS link provided by our worthy colleague John H. (the big showoff -- he's always turnin' up with good info).

It states "Credits listed for Qualified Plug-in Electric Drive Motor Vehicles are valid only for vehicles acquired on or before December 31, 2009." While it doesn't specifically mention "golf cart," it does say "Manufacturers of the vehicles listed below have provided appropriate information and have received from the Service acknowledgment of the vehicles eligibility for the credit..." and goes on to list several seemingly golf-related makers -- examples: Club Car Inc./ Fairplay Electric Vehicles/ Wheego Electric Cars/ Western GolfCars Mfg/ etc. etc.

Say what you will about lobbyists, they're effective. A golf cart, for heaven's sake! What next?

I'm emailin' my congressperson about a credit for purchasers of fat-free pickled Pigs Feet (should go over big locally).

[JohnH]

I'm not a showoff - just walking talking proof of the blind hog theory.