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Old 02-24-2002, 01:45 AM
Thornbird Thornbird is offline
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Join Date: Jan 2001
Location: St.Peters, Mo
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Default Tax deduction for owning a diesel ??

Last year, before i bought my diesel, i read somewhere on the net that you could get a refund for owning an alternative fuel {diesel} vehicle. They listed some form you needed and i think it was a one time deduction {or refund} of $200 and change.
Anyone a tax pro out there and would know about this? Has anyone done it? More taxes i can get back = more mods.
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Old 02-25-2002, 03:54 PM
Corey Corey is offline
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Join Date: Mar 2001
Location: Anamosa/Iowa
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Posts: 38
Default some info

my dad is a CPA so i asked him, this is what he found:

More scoop on the diesel credit. Was repealed on vehicles bought after 8-20-96. Vehicle had to be used in business. It was $198 for a pick up and $102 for a car. And you had to be buying a new vehicle, used ones didn't count.

so not really any good.
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Old 03-02-2002, 09:04 AM
BIG RED MACHINE BIG RED MACHINE is offline
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Only one that can be used when BUYING a new CTD now is a $500 credit(taken off when you purchase it) if your a member of the Farm Bureau,,Easily done and very inexpensive to do......
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Old 03-04-2002, 11:34 PM
Thornbird Thornbird is offline
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Sorry, but i did better than $500 on my new 2001. Employee purchase made it cheaper than a half ton 4x4.
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