re: Flex Fuel Vehicle Tax Deduction

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It's a calibrated fact.

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I hear ya man.

I'm just calling it how I see it as well.

ETA: I bought mine in Jan, so I suppose I have to give them another year to come up with some APA rule to narrow the definition to E85 vehicles.

i hear ya man.

That's not really how laws work though.

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No gray area here my friend. I'm cautioning you to be realistic. You're reaching big time.

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dude, you can link to external stuff all day. None of it matters.

The law says what it says, outside of an APA rule

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I'm just saying it's a known fact that E85 is the minimum.

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you can't just say "it's a known fact."

there is a law which gives standards. Those standards are what is used for the purposes of the tax credit.

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In the meantime, get proper tax representation in the form of a CPA if you're gonna go balls deep and claim your Ecoboost.

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I'll trust my own analysis over that of a CPA just because of three letters.

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I like the confidence factor of saying your scope of knowledge exceeds a trained professional.

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well, I have been to more complex tax law classes than 99% of the cpas out there (although I don't deal with tax on a daily basis).

I also don't trust anyone to not be an idiot with my money.

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So your understanding is that just because your vehicle does not seem to qualify by all relevant standards

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what you fail to accept is that there is only ONE relevant standard and that is outlined in black and white (and quoted for you several times)

IF you pull this off, you should open a tax service (for a 1/3 fee) to provide the info to those in the same boat (or F150) as you.

I have no doubt that you know your stuff. I just think you're being a little too brazen to think there is wiggle room here. Sometimes the "frick the man I want my $3K credit" is a slippery slope.

Go for it and report back! I'd love to be wrong. It means a taxpayer gets a pretty nice break rather than the usual BS we hear.

I'm completely confused now. Per that link, the 2011 5.0L V8 (which is the same motor as the 2012)is not a FFV but the 2012 is...They are both E85. Anyone else catch that?

My truck is on this list but I bought it in 2010? Can I still claim this credit by filing an amendment this year considering I filed my taxes already?

Does anyone know if the purchase of the vehicle had to be in the calender year of 2011 or as long as it was purchased before April 15th?

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If you purchased the vehicle in 2012, the credit goes on your 2012 tax return. It does not work like the IRA or HSA contribution rules.

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Thanks