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Flex Fuel Vehicle Tax Deduction
Posted on 1/23/12 at 12:29 pm
Posted on 1/23/12 at 12:29 pm
I purchased a 2011 Silverado with Flex Fuel and was wondering if I qualify for a tax deduction when I file for 2011?
4
Posted on 1/23/12 at 1:45 pm to DuckSlayer22
jw, what kind of mpg you getting?
flex fuel worth it?
flex fuel worth it?
Posted on 1/23/12 at 1:54 pm to joejohnson90
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.
Posted on 1/23/12 at 2:17 pm to joejohnson90
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.
Posted on 1/23/12 at 2:33 pm to DuckSlayer22
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.
Posted on 1/23/12 at 8:39 pm to DuckSlayer22
Not a deduction, it is a $3000 Louisiana Tax Credit
Posted on 1/23/12 at 11:08 pm to tigeryat
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.
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.
Posted on 1/23/12 at 11:16 pm to bulldog95
Can you link this please? I'm having trouble finding it.
Posted on 1/23/12 at 11:43 pm to geauxcats10
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 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 1/23/12 at 11:45 pm
Posted on 1/24/12 at 1:31 am to bulldog95
These are all Hybrids... I thought it included Flex Fuel vehicles
Posted on 1/24/12 at 8:35 am to tigeryat
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.
Posted on 1/24/12 at 4:09 pm to DuckSlayer22
quote:
I am currently getting an average of 14.3 mpg with the 5.3 V8.
that seems quite terrible.
Posted on 1/25/12 at 1:21 pm to TortiousTiger
Yes, it applies to Flex Fuel's purchased in 2011 and the credit is refundable.
ETA: LINK added.
ETA: LINK added.
This post was edited on 1/25/12 at 1:26 pm
Posted on 1/26/12 at 10:24 am to iknowmorethanyou
Thanks for the info. I put a call into the dept of revenue. I will post the results once I talk to them.
Posted on 2/1/12 at 12:42 pm to DuckSlayer22
bump....
I filed my state income tax claiming this credit... We shall see how this turns out.
I filed my state income tax claiming this credit... We shall see how this turns out.
Posted on 2/2/12 at 1:30 pm to geauxcats10
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.
Posted on 2/2/12 at 2:20 pm to DuckSlayer22
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.
Posted on 2/2/12 at 2:43 pm to DandyPimp
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
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
Posted on 2/3/12 at 9:47 am to tigeryat
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.
BTW - 1010 Common is a highrise building in downtown New Orleans.
Posted on 2/3/12 at 10:20 am to DandyPimp
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.
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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