CTD qualifies as one time alternative fuel tax credit?
02-10-2003, 08:03 PM
#1
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CTD qualifies as one time alternative fuel tax credit?
So -- can anyone nail down this rumor? That the Feds regard a diesel truck as an "alternative fuels" vehicle, and the purchase of a CTD qualifies you for a one time tax-credit with the IRS? ($500 has been mentioned.)
What about the states? (Virginia doesn't consider diesel as an "alternative fuel" -- that's been mentioned.)
A lot of people would like to know more. I sure would. ;D
GP
What about the states? (Virginia doesn't consider diesel as an "alternative fuel" -- that's been mentioned.)
A lot of people would like to know more. I sure would. ;D
GP
02-10-2003, 08:13 PM
#2
Administrator
Re:CTD qualifies as one time alternative fuel tax credit?
And, if you didn't take the deduction when you first bought the vehicle, can you now take it?<br><br><br>phox
02-10-2003, 08:25 PM
#3
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Re:CTD qualifies as one time alternative fuel tax credit?
And when the IRS catches me, can I pick my cellmate? <br><br>Like maybe that "Dude you're gettin' a Dell guy" 
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02-10-2003, 09:43 PM
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Re:CTD qualifies as one time alternative fuel tax credit?
Speaking of the IRS, I just received a notice in the mail that I am one of the "lucky" ones that will be audited for the 2001 tax year... :'( :'( :'( :'( <br>And I didn't even claim my Cummins as a dependant! [undecided] >
> > <br><br>Those bastards! > > >
> > <br><br>Those bastards! > > >
02-10-2003, 09:52 PM
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Re:CTD qualifies as one time alternative fuel tax credit?
I'm sorry to hear that Steve, maybe you should have written your truck as a dependent. While you are at your audit, ask tax man about alternate fuel vehicle rumor. 
While you are at your audit, ask tax man about alternate fuel vehicle rumor.
02-10-2003, 09:57 PM
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Re:CTD qualifies as one time alternative fuel tax credit?
I just saw a headline that said the "Dell Dude" was busted for pot!!! 
. Maybe your wish will come true!
. Maybe your wish will come true!
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02-10-2003, 10:25 PM
#8
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Re:CTD qualifies as one time alternative fuel tax credit?
[quote author=Gear Poet link=board=8;threadid=10817;start=0#103138 date=1044928986]<br>So -- can anyone nail down this rumor? That the Feds regard a diesel truck as an "alternative fuels" vehicle, and the purchase of a CTD qualifies you for a one time tax-credit with the IRS? ($500 has been mentioned.) <br><br>What about the states? (Virginia doesn't consider diesel as an "alternative fuel" -- that's been mentioned.)<br><br>A lot of people would like to know more. I sure would. ;D<br><br>GP<br>[/quote]<br><br>Virginia may not consider it an alternative fueled vehicle but the IRS does or at least did when I bought my 89. I got somewhere around $300 to $500 back and got the tax records ot show it (somewhere).<br><br>Can't remember if I did it on my 99 or not. You need to ask the tax people. I used Turbo tax that year and it spefically asked about it.
02-17-2003, 06:51 PM
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Re:CTD qualifies as one time alternative fuel tax credit?
I asked a tax preparer that I know about this credit for alternative fuel for the IRS..<br><br>She was aware of a some sort of credit (her ex got to take it for a isuzu diesel pickup in mid '80's), but a little research in the master tax guide found that you can take a credit if you use the truck for the following:<br><br>Sec 1379 - Credit for . . special fuels: may be taken where the fuel item is used for farming, nonhighway trade or business, buses, certain nontaxable purposes.<br><br>The Alternative Fuels Credit - Sec 1319 -- tax credit is allowed for domestic production of fuels derived from nonconventional sources that are sold to unrelated persons.<br><br>So it appears that us non-business types are not eligible for this credit.. But you know how huge the tax laws are, personal use may be in there someplace..<br><br>Any one got any ideas??<br>
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