Is there a tax deduction for purchasing a new car in 2006 ?

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Is there a tax deduction for purchasing a new car in 2006 ?

2007-01-25 09:00:24 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States

2 answers

I believe there is a small deduction for purchasing a hybrid car that is allowable. This is an energy deduction. Buying a car, for cash or on credit is no longer a tax deduction.

2007-01-25 09:08:28 · answer #1 · answered by fangtaiyang 7 · 0⤊ 0⤋

Only if its for a business or one of those hybrid, fuel efficient cars.

2007-01-25 17:07:34 · answer #2 · answered by mypassions4life 5 · 0⤊ 0⤋