Above-line deductions for clean-fuel vehicles. (IRS News).The IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. has certified two more gas-electric hybrid automobiles as being eligible for the clean-fuel deduction. Buyers of a Honda Insight The Honda Insight was a two-seater hybrid automobile manufactured by the Japanese automaker Honda. It was the first mass-produced hybrid automobile sold in the United States, introduced in 1999 and at its height achieved nearly 70 miles per gallon (3.4 L per 100 km). for model years 2000-02 and buyers of a Honda Civic Hybrid
For the 2003 model of the Civic, Honda added a continuously variable transmission and an Integrated Motor Assist hybrid system similar to for model year 2003 can claim an above-line deduction of $2,000 for the year that the vehicle was first put into use. Get the details at www.irs.gov/ pub/irs-news/ir-02-97.pdf. |
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