2007 tax credit

[jaxhpfa]

Hello everyone!

Just traded my previous Prius this last weekend for a new 07.

Does anyone here know when the max # of Prius sold in 2007 will end the credit???

Thanks for the info...happy touring everybody!!

[Tom6850]

<div class='quotetop'>QUOTE(jaxhpfa @ May 14 2007, 11:48 PM) [snapback]442172[/snapback]</div>

Hello everyone!

Just traded my previous Prius this last weekend for a new 07.

Does anyone here know when the max # of Prius sold in 2007 will end the credit???

Thanks for the info...happy touring everybody!!
[/b]

From April 1, 2007 until Sept 30, 2007 the tax credit is $787.50. After that $0.00. No limit on number sold.

[jaxhpfa]

<div class='quotetop'>QUOTE(Tom 6850 @ May 15 2007, 06:44 AM) [snapback]442294[/snapback]</div>

From April 1, 2007 until Sept 30, 2007 the tax credit is $787.50. After that $0.00. No limit on number sold.
[/b]

Thanks Tom!!

I appreciate the info. I thought that it depended on the # sold???? guess that was last years rule?

Anyway....nice to know there is still a credit available.

Have a great day.

[JimN]

<div class='quotetop'>QUOTE(jaxhpfa @ May 16 2007, 02:34 PM) [snapback]443593[/snapback]</div>

Thanks Tom!!

I appreciate the info. I thought that it depended on the # sold???? guess that was last years rule?

Anyway....nice to know there is still a credit available.

Have a great day.
[/b]

The cutoff number for total sales was acheived June 2006, starting the phase out schedule.

[desertbriez]

i was just coming here to ask about this!

so do we need any special paperwork? and if so, where do we get it?

or do we just put it down on our taxes next year?

[pixeltaker]

Go to the IRS.gov website and search "hybrid". Next years tax paperwork will have the form. Your tax preparer or TurboTax will also have the forms.

Here's the '06 link: http://www.irs.gov/newsroom/article/...107766,00.html

[NYPrius1]

Just Purchased an 2007 Prius. Do I need anything from the dealer for my tax return next year??
Also, I live in New York State, how will this effect my state return??
Thanks For Any Help\EM

[JimN]

<div class='quotetop'>QUOTE(NYPrius1 @ Jul 25 2007, 04:38 PM) [snapback]484942[/snapback]</div>

Just Purchased an 2007 Prius. Do I need anything from the dealer for my tax return next year??
Also, I live in New York State, how will this effect my state return??
Thanks For Any Help\EM
[/b]

I do not recall seeing anything posted here about a NY state credit or deduction. You do not need anything from the dealer. You will need to file two additional forms with your 1040. Everyone will have the forms. www.taxact.com offers free software. Toyotas (and Lexus) bought Oct. 1 and later do not qualify for the credit.

[NYPrius1]

<div class='quotetop'>QUOTE(JimN @ Jul 25 2007, 09:30 PM) [snapback]485150[/snapback]</div>

I do not recall seeing anything posted here about a NY state credit or deduction. You do not need anything from the dealer. You will need to file two additional forms with your 1040. Everyone will have the forms. www.taxact.com offers free software. Toyotas (and Lexus) bought Oct. 1 and later do not qualify for the credit.
[/b]

Thanks So Much FOr The Reply!!
I did go to the New York State Tax Site, Seems like a lot of things came up BUT they never made it to a Vote.
I use Turbo Tax, So I assume the program will know what to do next year!
Em
PS I see that the tax brakes go down each month and than go away after Sept.
Will The Exxon Tax Brakes do the same??
I doubt it!!

[brad_rules_man]

This has probly been posted before, but has anyone noticed that tax credits for the consumers buying hybrids dropped largely in $, and on top of that they put in a # cap, now a date cap. All in the meantime they put in an economic stimuli" program that gives a tax credit of up to 100,000$ to business owners to buy 6ton+ vehicles? (Such as the Hummer.) Sheesh. lol I bet next year they will cut it down to like 500 bucks, and limit it to the first 50,000 vehicles, and within the first week HAHA