What does date placed in service mean? vehicle expense?

[missileboss2022]

A dealership's demonstrator (demo) vehicle was sold as a new vehicle due to it never being purchased, registered, or titled. For warranty purposes, the vehicle's placed in service date was the date the dealership began using the car as a demonstrator vehicle. For my personal tax purposes, since the car is for personal use only (not business), would the placed in service date reported to the IRS be the date I purchased and took possession (occurred on the same date in this case) of the new vehicle?

[MarilynG1]

Yes, if you are claiming the Energy Efficient Vehicle Credit, the 'date placed in service' would be the date you took possession of the vehicle, since you are not using the vehicle for Business.

Here's how to claim the credit in TurboTax:

• Click on Deductions and Credits
• Locate Cars and Other Things You Own
• On Energy Efficient Vehicles, click on Start

@missileboss2022

[Explorer909]

already answered