2007 Prius Tax Credit

jmp470 · 01-11-2008, 07:40 PM

I bought my Prius in Jun 07 and was wondering what type of tax credit I would recieve. Any help?

gone2green · 01-18-2008, 03:56 PM

It will be in the $700 range, not sure of exact amount , I bought mine in March 07 and it was 1500 or so it then went to 1/2 of that amount.
hope that helps some.

Boo · 01-18-2008, 07:11 PM

$787.50 max.

You can find maximum hybrid tax credit amounts here:

Summary of the Credit for Qualified Hybrid Vehicles

esears1 · 01-18-2008, 11:53 PM

Is this 787.50 clean? or is this tax break giving me actually $30 clean?? :>

JimN · 01-19-2008, 11:57 PM

Quote:

Originally Posted by esears1

Is this 787.50 clean? or is this tax break giving me actually $30 clean?? :>

The answer is "it depends". The hybrid credit is one of the misc. credits and is affected by the others. Some owners have received the full credit, others have received $0. The most popular culprit seemed to be the child care credit.

LYLUVLY · 01-20-2008, 02:22 AM

Quote:

Originally Posted by esears1

Is this 787.50 clean? or is this tax break giving me actually $30 clean?? :>

Further, if you only owed taxes of $500, you will lose the difference, which is $287.50 as quoted in Turbo Tax. Hope we are reading it wrong.
Uncle Sam will not you more than what you pay them.
Even at the higher level, when the amount was $3000, one still has to pay that much money in taxes in order to qualify for the $3000.
Its still a rotten system, nicht war?

esears1 · 01-20-2008, 10:53 PM

Ok.. Thanks guys.. I guess I won't know until I plug in all the information in turbotax..

JoeyJoeJoShabadoo Jr · 01-23-2008, 06:02 PM

The chart on the IRS website only states 2007 models. Does anyone know for sure if 2008 models recieved before the Sept. 30 cutoff will be applicable?

frosh · 01-23-2008, 07:16 PM

Are you guys talking state tax or government tax or both?

frosh

JimN · 01-23-2008, 08:22 PM

We're discussing the Federal tax credit. There may be some tax benefits in some states.

01-11-2008, 07:40 PM	#1
jmp470 Junior Member Join Date: Jun 2007 Posts: 7 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	2007 Prius Tax Credit I bought my Prius in Jun 07 and was wondering what type of tax credit I would recieve. Any help?

01-18-2008, 03:56 PM	#2
gone2green Junior Member Join Date: Mar 2007 Posts: 25 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Re: 2007 Prius Tax Credit It will be in the $700 range, not sure of exact amount , I bought mine in March 07 and it was 1500 or so it then went to 1/2 of that amount. hope that helps some.

01-18-2008, 07:11 PM	#3
Boo Boola Boola Member Join Date: Feb 2007 Location: New York, NY Posts: 2,014 My Car: 2007 Prius Package: #2 Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 11	Re: 2007 Prius Tax Credit $787.50 max. You can find maximum hybrid tax credit amounts here: Summary of the Credit for Qualified Hybrid Vehicles

01-18-2008, 11:53 PM	#4
esears1 Junior Member Join Date: Aug 2007 Posts: 24 My Car: 2007 Prius Package: #6 Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Re: 2007 Prius Tax Credit Is this 787.50 clean? or is this tax break giving me actually $30 clean?? :>

01-20-2008, 10:53 PM	#7
esears1 Junior Member Join Date: Aug 2007 Posts: 24 My Car: 2007 Prius Package: #6 Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Re: 2007 Prius Tax Credit Ok.. Thanks guys.. I guess I won't know until I plug in all the information in turbotax..

01-23-2008, 06:02 PM	#8
JoeyJoeJoShabadoo Jr Member Join Date: Sep 2007 Location: New Jersey Posts: 39 My Car: 2008 Prius Package: #6 Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Re: 2007 Prius Tax Credit The chart on the IRS website only states 2007 models. Does anyone know for sure if 2008 models recieved before the Sept. 30 cutoff will be applicable?

01-23-2008, 07:16 PM	#9
frosh Member Join Date: Jan 2008 Location: Virginia Posts: 33 My Car: 2007 Prius Package: #6 Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Re: 2007 Prius Tax Credit Are you guys talking state tax or government tax or both? frosh

01-23-2008, 08:22 PM	#10
JimN Certified Prius Advisor Join Date: Nov 2006 Location: South Jersey Posts: 2,045 My Car: 2006 Prius Package: #3 Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Re: 2007 Prius Tax Credit We're discussing the Federal tax credit. There may be some tax benefits in some states.