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Federal tax credit - does it vary by location?

Discussion in 'Prime Main Forum (2017-2022)' started by SteveG12, Feb 18, 2017.

  1. SteveG12

    SteveG12 New Member

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    A salesman at a local dealership (Memphis, TN) told me today that he could order a Prime for me, but that tax credits weren't available for this area. Does the federal tax credit vary by location? No one in the Cincinnati region seems to have a Prime right now - I suspect he just wanted to steer me to something already on the lot.
     
  2. huskers

    huskers Senior Member

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    It is a federal tax credit so it is good in all states. When you do your taxes for 2017 use IRS form 8936 to make it happen.
     
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  3. Dmitriy Sokol

    Dmitriy Sokol Active Member

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    By definition, Federal rebate is nationwide.
     
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  4. SteveG12

    SteveG12 New Member

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    Thanks. I think he was just trying to steer me to what he has on the lot, i.e., a Prius Four. I'd already given up on Prime availability in this area anytime soon, but I resent being misled.
     
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  5. mmmodem

    mmmodem Senior Taste Tester

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    I think the salemans is referring to local tax credits and rebates which will vary by region.
     
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  6. JimN

    JimN Let the games begin!

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    You'll also need Form 6251 Alternative Minimum Tax.
     
  7. Since2002

    Since2002 Senior Lurker

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    Huh? Sources please. QPEDMVC is a credit, not a deduction and should have no effect on AMT calculation. Noting that:

    1. Nowhere that I can find on form 8936 or the instructions for 8936 is AMT mentioned.
    2. On form 1040 the credit is entered on line 54. AMT is entered way above that on line 45.

    Some business credits can be affected by AMT but whether the plug-in credit is one of them I have no idea I am referring only to personal income tax

    (note - tax advice from Since2002 and JimN is for informational purposes only and is no substitute for consulting with a qualified tax professional)
     
  8. kevin54

    kevin54 Member

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    I just filed my 2016 Federal taxes after having purchased a Prime in late December and no, I did not have to the file the ATM form 6251. Only form 8936. Where did you get this information?
     
  9. hatcher8

    hatcher8 Junior Member

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    Hey huskers..I just found out that NE offers low intrest loans for buying EV vehicles and putting in charging stations. I had to take out a 18k conventional car loan for Pearl Prime last week...and now I find out that I could maybe have saved some dough. I will be checking into switching to the low intrest loan next week. If you are interested just google:
    Alternative Fuel Vehicle and Fueling Equipment Loans
    The Nebraska Energy Office, along with the state's lending institutions, finance dedicated alternative fuel* projects through Nebraska Dollar and Energy Saving Loans.
     
  10. huskers

    huskers Senior Member

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    Thanks for the info. I will look into that.
     
  11. JimN

    JimN Let the games begin!

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