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Lane
Lane, CFP, MBA, CRPS
Category: Tax
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Experience:  Providing Financial & Tax advice since 1986
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Can a golf cart still be used as a tax deduction for the 2012

Resolved Question:

Can a golf cart still be used as a tax deduction for the 2012 tax return?
Submitted: 1 year ago.
Category: Tax
Expert:  Lane replied 1 year ago.

Only if they come with the features that make them street legal and therefore safe. Rear view mirrors, seat belts, headlights, turn signals, taillights, and brake lights, technically, are the same as autos.

So, if you are in the market for an electric golf cart, you can obtain the same tax credit or rebate that the government offers people who own electric cars as long as it is legal to drive on the road.

WHat you might want to do is ask the Dealer to give You something in writing that the cart is street legal.

See this: http://www.autobytel.com/auto-news/features/2012-plug-in-hybrid-and-electric-car-tax-credit-information-110759/

And here's the guidance: http://www.irs.gov/Businesses/Plug-In-Electric-Vehicle-Credit-(IRC-30-and-IRC-30D)

Read it carefully for the requirements (must be plug in, etc)


Lane, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 3655
Experience: Providing Financial & Tax advice since 1986
Lane and 6 other Tax Specialists are ready to help you
Expert:  Lane replied 1 year ago.


From IRS:


Notice 2009-58 provides procedures for a vehicle manufacturer to certify to the Internal Revenue Service that a vehicle of a particular make, model, and model year meets the requirements that must be satisfied to claim the new plug-in electric vehicle credit under § 30.

Here's a link: http://www.irs.gov/irb/2009-30_IRB/ar07.html

And here's the form you''ll need for your return: http://www.irs.gov/pub/irs-pdf/f8834.pdf

Hope this helps.





Customer: replied 1 year ago.

I am having difficulty in printing your reply. Can you send it to me via email?


Ron

Expert:  Lane replied 1 year ago.

I'm sorry, that's against the terms of service here.

Bu, if you'll give ma a minute, I'll print it to a PDF file and then post to my google drive and place a link here.

Depending on your PDF reader, you may need to copy and paste the links I've provided (such as to the IRS info) into your browser.

While I'm doing tat you may want to try just copying the posts to a Microsoft word or other word processor file and print form there.

Be right back

Expert:  Lane replied 1 year ago.

Here ya go:

https://docs.google.com/open?id=0B_zySkB__jYMNFQ3RlFETGNCb0E

https://docs.google.com/open?id=0B_zySkB__jYMX3F3ZjV3MVlnUlU

One s a microsoft word file and one is a pdf file




Hope this helps


Lane

Positive feedback appreciated, BUT, if need further clarification come back here.

Expert:  Lane replied 1 year ago.

Thanks for the feedback!

And good luck with it.

... excellent program

Lane


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