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08-23-2005 07:55 PM #1
2006 Tax Credit on a leased vehicle
I am considering leasing a new hybrid in 2006. Does anyone know how the 2006 tax credit would apply to a leased vehicle?
First of all, I am assuming that I would receive the credit and not the bank or "owner" of the vehicle.
Given this, could I take the entire credit in the year the lease was started or would it have to be spread out over the life of the lease? Is there a formula for this?