Yes, if you have commuted greater than 50% by bicycle to and from work for twelve months, and submit a request for the $240 in the January - February 2020 claim period. Include a copy of the itemized receipt that shows the bike purchase of $1,000. Once your expense report has been processed, you will receive the maximum $240 reimbursement.
Remember, bike commuters may only claim a $20 credit for those months they commuted greater than 50% by bicycle to and from work, AND did not receive qualified parking or transit discounts.