Flex Fuel Vehicle Tax Deduction | TigerDroppings.com
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DuckSlayer22
LSU Fan
Lafayette, LA
Member since Sep 2011
512 posts

Flex Fuel Vehicle Tax Deduction

I purchased a 2011 Silverado with Flex Fuel and was wondering if I qualify for a tax deduction when I file for 2011?


joejohnson90
USA Fan
Baton Rouge
Member since Dec 2011
1900 posts

re: Flex Fuel Vehicle Tax Deduction
jw, what kind of mpg you getting?
flex fuel worth it?


DuckSlayer22
LSU Fan
Lafayette, LA
Member since Sep 2011
512 posts

re: Flex Fuel Vehicle Tax Deduction
quote:

flex fuel worth it?


I am currently getting an average of 14.3 mpg with the 5.3 V8. I haven't tried an E85 fuel yet.


lynxcat
Rutgers Fan
Member since Jan 2008
14858 posts

re: Flex Fuel Vehicle Tax Deduction
quote:

jw, what kind of mpg you getting?
flex fuel worth it?


Just compare the extra cost to the extra MPG and find the breakeven point.

More expensive gas = quicker break-even.


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CaptainBrannigan
Auburn Fan
Sweater-Vest Swag
Member since Jan 2010
8565 posts

re: Flex Fuel Vehicle Tax Deduction
I think the tax deduction is for hybrid cars and electric cars. Flex Fuel is really nothing special, the tank is lined to prevent the rust from the alcohol. That is the only real difference from normal cars.


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tigeryat
LSU Fan
God's Country
Member since Oct 2005
2579 posts

re: Flex Fuel Vehicle Tax Deduction
Not a deduction, it is a $3000 Louisiana Tax Credit


bulldog95
LSU Fan
North Louisiana
Member since Jan 2011
12988 posts

re: Flex Fuel Vehicle Tax Deduction
this.

The irs has a wdsite (go to their main page) it actually list what cars/trucks are eligible for 2011 just highlight the manufactuer and it list eligible cars.

Mine I bought in 2011 was not eligible.


geauxcats10
LSU Fan
AP
Member since Jul 2010
3194 posts
Online

re: Flex Fuel Vehicle Tax Deduction
Can you link this please? I'm having trouble finding it.


bulldog95
LSU Fan
North Louisiana
Member since Jan 2011
12988 posts

re: Flex Fuel Vehicle Tax Deduction
federal flex fuel vehicle eligibility


This gives an idea, if the tax laws have changed you'll have to look it up on the IRS main page or get your tax preparer a call and they will know more than me or anyone else on here.
This post was edited on 1/23 at 11:45 pm


geauxcats10
LSU Fan
AP
Member since Jul 2010
3194 posts
Online

re: Flex Fuel Vehicle Tax Deduction
These are all Hybrids... I thought it included Flex Fuel vehicles


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DuckSlayer22
LSU Fan
Lafayette, LA
Member since Sep 2011
512 posts

re: Flex Fuel Vehicle Tax Deduction
quote:

Not a deduction, it is a $3000 Louisiana Tax Credit


I wonder if this applies to vehicles purchased in 2011? I will call sometime today.


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TortiousTiger
Baton Rouge
Member since Jan 2007
12668 posts

re: Flex Fuel Vehicle Tax Deduction
quote:

I am currently getting an average of 14.3 mpg with the 5.3 V8.


that seems quite terrible.



iknowmorethanyou
LSU Fan
Paydirt
Member since Jul 2007
4969 posts

re: Flex Fuel Vehicle Tax Deduction
Yes, it applies to Flex Fuel's purchased in 2011 and the credit is refundable.

ETA: LINK added.
This post was edited on 1/25 at 1:26 pm


DuckSlayer22
LSU Fan
Lafayette, LA
Member since Sep 2011
512 posts

re: Flex Fuel Vehicle Tax Deduction
Thanks for the info. I put a call into the dept of revenue. I will post the results once I talk to them.


geauxcats10
LSU Fan
AP
Member since Jul 2010
3194 posts
Online

re: Flex Fuel Vehicle Tax Deduction
bump....

I filed my state income tax claiming this credit... We shall see how this turns out.


DuckSlayer22
LSU Fan
Lafayette, LA
Member since Sep 2011
512 posts

re: Flex Fuel Vehicle Tax Deduction
quote:

I filed my state income tax claiming this credit... We shall see how this turns out.

May I ask how you applied for this credit? I want to file tonight if possible.


DandyPimp
LSU Fan
New Orleans
Member since Jan 2007
804 posts

re: Flex Fuel Vehicle Tax Deduction
will be curious on this as well. I bought a flex fuel vehicle in 2011. Seems dubious for me since I have not seen a station offering 85E fuel anywhere in greater NOLA.


tigeryat
LSU Fan
God's Country
Member since Oct 2005
2579 posts

re: Flex Fuel Vehicle Tax Deduction
Much to my surprise, there actually is one in N.O.

Golden Leaf Energy Mobil Unit 1
1010 Common St
New Orleans, LA 70112

Give us a report about service and cost.

E85 Fuel Station Finder


DandyPimp
LSU Fan
New Orleans
Member since Jan 2007
804 posts

re: Flex Fuel Vehicle Tax Deduction
Anybody get confirmation on this from the dept of revenue? I sent an email inquiry because getting a live person over there is almost impossible.

BTW - 1010 Common is a highrise building in downtown New Orleans.


tigeryat
LSU Fan
God's Country
Member since Oct 2005
2579 posts

re: Flex Fuel Vehicle Tax Deduction
You are not going to get any help from La Dept of Revenue on this one. Give a copy of your vehicle bill of sale and registration to your CPA and let him figure it out for you.

I thought that address for the flex fuel station looked suspicious. I was told there were no E85 fuel stations in Louisiana.


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