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2003, 2004 HONDAS QUALIFY FOR "CLEAN FUEL" DEDUCTION

January 30, 2004

The IRS announced yesterday (Notice 2004-16) that the 2003 and 2004 Honda Insight and the 2004 Honda Civic Hybrid are eligible for the "Clean Fuel Deduction."

The deduction - $2,000 for vehicles bought in 2003 and $1,500 for 2004 purchases - is taken on line 33 of form 1040 by entering "clean fuel" next to the line and entering the deduction on the line. No separate form is required, and the deduction is available both to itemizers and non-itemizers.

The IRS has already certified the 2004 Toyota Prius for the deduction.

insight.jpg
2004 Honda Insight

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