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Deductions & credits
In regards to the Energy Efficient Credit, unfortunately, you can not get the credit for a leased vehicle, only for a vehicle that you purchased.
Per the IRS, "You are the owner of the vehicle. If the vehicle is leased, only the lessor and not the lessee, is entitled to the credit."
For more information, please see this IRS Link:https://www.irs.gov/pub/irs-pdf/i8936.pdf
However, if this vehicle was used for business purposes, then you would be able to deduct the payments.
Per the IRS, "You are the owner of the vehicle. If the vehicle is leased, only the lessor and not the lessee, is entitled to the credit."
For more information, please see this IRS Link:https://www.irs.gov/pub/irs-pdf/i8936.pdf
However, if this vehicle was used for business purposes, then you would be able to deduct the payments.
May 31, 2019
8:14 PM