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Deductions & credits
The wording on that question can be a little confusing.
The question is actually "Is this vehicle for personal use, or leasing to others, and not for resale?"
So the answer in your case is 'Yes' because it is a personal use vehicle.
If you were to answer 'No' then you are saying that it is a leased vehicle. If that is the case then the credit would belong to the party who is leasing the vehicle to you, not to the person leasing the vehicle.
That is why there is the note there that says "If you are leasing the vehicle from another person. Answer No."
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‎January 25, 2024
11:10 AM