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Old 01-26-2011, 10:23 PM   #1
triumphant675r
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New bike tax credit?

I know there's a tax credit for people who bought a new vehicle in 09 but paid the taxes in 2010, but if I bought a new bike in 2010 is there a tax credit for that?

Also, I saw something about advanced lean burning vehicles, what exactly is that?
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Old 01-26-2011, 10:28 PM   #2
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Quote:
Originally Posted by triumphant675r View Post
I know there's a tax credit for people who bought a new vehicle in 09 but paid the taxes in 2010, but if I bought a new bike in 2010 is there a tax credit for that?

Also, I saw something about advanced lean burning vehicles, what exactly is that?
Quote:
The deduction is available on new vehicles purchased from Feb. 17, 2009, through Dec. 31, 2009.
It may have been a one time deal

IRS link
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Old 01-26-2011, 10:50 PM   #3
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Quote:
Originally Posted by Bevo View Post
It may have been a one time deal

IRS link
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Anyone wear chaps with fishnet shirts? My friends give me for it, but I feel most comfortable this way. Just seeing if anyone else out there feels the same. Also looking for other men interested in riding.
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Old 01-27-2011, 12:53 AM   #4
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Just if u got the 09.
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Old 01-27-2011, 06:32 AM   #5
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Call up a tax professional. I used H&R block and the guy told me they extended it to this year so I got credit for my new car and the bike.
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Old 01-27-2011, 06:49 AM   #6
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LADIES YOU GOTTA GIVE HEAD TO GET AHEAD!!!

ROFL!
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Old 01-27-2011, 06:50 AM   #7
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GSXRCoastie, better hope you don't get audited
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You can deduct state or local sales or excise taxes (or certain other taxes or fees in a state without a sales tax) paid in 2010 for the purchase of any new motor vehicle(s) after February 16, 2009, and before January 1, 2010.
You can deduct it for 2010 only if you paid the sales tax in 2010

Page Last Reviewed or Updated: November 09, 2010 (IRS link)
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Old 01-27-2011, 10:49 AM   #8
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The guy informed me that they extended it Feb2009-Dec31 2010. If I do get audited I'm glad I paid extra for the audit protection. I work for Uncle Sam so I know first hand how he likes to people over so nothing new.
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Old 01-27-2011, 11:39 AM   #9
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Quote:
Enter the state and local sales and excise taxes you paid in 2010 for the purchase of any new motor vehicle(s) after February 16, 2009, and before January 1, 2010 (see instructions)....
Line 1, page 2 of Schedule A (Form 1040) 2010
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