Chevrolet Corvette Stingray C7 Forum - View Single Post - Proposed Bill to give New car buyers tax break

Croathlete · 01-20-2009, 08:01 AM

"(a) In General- Part VII of subchapter B of chapter 1 of the Internal Revenue Code of 1986 (relating to additional itemized deductions for individuals) is amended by redesignating section 224 as section 225 and by inserting after section 223 the following new section:"

If I'm reading this correctly, it looks like this will be an addition section for additional itemized deductions. This would lead me to believe that someone who takes the standard deduction couldn't take advantage of this.

01-20-2009, 08:01 AM	#51
Croathlete Danny Drives: 2010 Camaro 2SS/RS Join Date: Nov 2007 Location: NYC Posts: 1,656	"(a) In General- Part VII of subchapter B of chapter 1 of the Internal Revenue Code of 1986 (relating to additional itemized deductions for individuals) is amended by redesignating section 224 as section 225 and by inserting after section 223 the following new section:" If I'm reading this correctly, it looks like this will be an addition section for additional itemized deductions. This would lead me to believe that someone who takes the standard deduction couldn't take advantage of this. __________________ 2SS/RS CGM with black rally stripes DON_RAFA describing my Noweeds cutouts - "Very Strong. When I couldn't see you I still heard you. Sounds like your car is pissed at the world."