Sharing the wealth of wading through mind-numbing government publications... I suggested it as a topic yesterday, noticed a few 'festers shared some information on it, and after doing some additional reading, decided to post a review of the topic.
Tax topics become complicated due to IRS...
I'm in the process of ordering an X5 35D and cannot get a straight answer from BMW dealers on how the $1,800 tax credit works. Do you deduct the amount from the taxes you are to pay, or does it come off your taxable income? I've asked three dealers and gotten mixed answers.
I just leased a brand new 2009 X5 xDrive35d. I thought I saw something about an $1800 tax credit, but now I can't find it.
Is there any Federal tax incentive for leasing the the X5 35d?