Can a business who leased the Toyota Prius 100% for business (leased prior to (9/07), be entitled to a the hybird tax credit?
Hybrid Vehicle Tax Credit used 100% for business?
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The IRS website says....
3. The vehicle must be acquired for use or lease by the taxpayer claiming the credit.
a. The credit is only available to the original purchaser of a qualifying hybrid vehicle.
If a qualifying vehicle is leased to a consumer, the leasing company may claim the credit
Form 8910 Alt Vehicle Wksht does not ask if the vehicle was leased but only the day it was "purchased", date placed in service and what % business use.
So I am reading this as the credit is dissallowed if the taxpayer leased the toyota prius. Does that sound correct? -
the credit
goes not to the dealer, but to the lessor, meaning the leasing company.ChEAr$,
Harlan Lunsford, EA n LAComment
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