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Tax Credit/Deduction for Prius '06

Discussion in 'Gen 2 Prius Main Forum' started by rickisme, Dec 12, 2005.

  1. rickisme

    rickisme New Member

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    I'm wondering if anyone out there is able to untangle the bureaucratic language and uncertainty concerning IRS tax deductions or tax credits for purchasing a new Prius. I'm about to take delivery on a Prius '06 model, which is scheduled to arrive at the dealer by mid to late December. I live in New York state. Because of the time of year, I'm trying to figure out if I'll save more by taking delivery in '05 or in '06. Also, it there a deduction/credit on the federal AND state level?
     
    #1 rickisme, Dec 12, 2005
  2. Kiloran

    Kiloran New Member

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    #2 Kiloran, Dec 12, 2005
  3. beethoven

    beethoven Junior Member

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    Same situation here. Our just came in today (after 8 months) and we are going to try pushing delivery to January. Our contract said we had 21 days to take delivery so.....
     
    #3 beethoven, Dec 12, 2005
  4. Jack 06

    Jack 06 New Member

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    Winters, CA: Prius capital of US. 30 miles W of S
    As Kiloran says, there's all kinds of information here on the '05 and '06 tax breaks. (Much of it has generously been provided by Kiloran himself!).

    Just dig a little, starting with the FAQ and the last several "pages" of threads in the Main Forum. The '06 tax break is fairly complicated---by your personal tax situation as well as when you buy. If you literally have until Jan. 1 or 2 (cutting it awfully close) to take delivery, the temptation is to say, "go for it", that is, grab the bigger tax break. But you must be aware first what the tax break would be for YOU.

    If you get "stuck", then come back here!
     
    #4 Jack 06, Dec 12, 2005
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