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can I get a credit if I buy the car before April1? But not take delivery by April 1?

Discussion in 'Prius Tax Credit Discussion' started by turbonick, Mar 30, 2007.

  1. turbonick

    turbonick New Member

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    I'm about to buy an 07 Prius, but I'm worried about a loop hole. I'm signing all the contracts, paying the down payment ect today, but the dealership will not get the car until April 8 so I will not take delivery until April 9. Does that disqualify me? I just don't want to get dinged by some BS about ot actually taking delivery until after the deadline. Anyone out there know for sure?

    Thanks,
    Nick
     
    #1 turbonick, Mar 30, 2007
  2. JimN

    JimN Let the games begin!

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    <div class='quotetop'>QUOTE(turbonick @ Mar 30 2007, 02:53 PM) [snapback]415022[/snapback]</div>
    On form 8910 the IRS asks for the date the vehicle is placed in service. The bill of sale is going to be dated April 9 at the earliest. If the dealer has the VIN do you really want to pay for a car and insure it on March 31 sight unseen? On the other hand, the IRS doesn't require or receive any documentation. They may find the discrepency if they audit you and could legitimately charge you with tax fraud.
     
    #2 JimN, Mar 30, 2007
  3. itsme

    itsme New Member

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    As Jim said you have to take delivery by April Fools Day no joke , it true and maybe it was a poor joke played on us all by our Government.

    Look at a different dealer if the tax credit is a major decision maker. \ to me it is not worth tax fraud, Federal Time \NO WAY
     
    #3 itsme, Mar 30, 2007
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