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THE GREEN MACHINE FOR THE GATED COMMUNITY
May 11, 2005
The IRS has certified the 2006 Lexus RX 400h sport-utility vehcile as eligible for the clean fuel deduction.
Individuals purchasing these in 2005 can get an above-the-line deduction of up to $2,000. There is no separate return line or form for the deduction; you just add $2,000 to the amount on line 35, which is the total of adjustments to income, and write "clean fuel" next to the total.
The complete list of qualifying clean-fuel vehicles is here.
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Joe Kristan writes the Tax Update items, and any opinions expressed or implied are not neccesarily shared by anyone else at Roth & Company, P.C. Address questions or comments on Tax Updates to
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