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2007 Prius Tax Credit

Discussion in 'Prius Tax Credit Discussion' started by jmp470, Jan 11, 2008.

  1. jmp470

    jmp470 New Member

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    I bought my Prius in Jun 07 and was wondering what type of tax credit I would recieve. Any help?
     
  2. gone2green

    gone2green grumpier than the grumpiest old man you know ;)

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    Location:
    Mesa AZ
    Vehicle:
    2015 Prius v wagon
    Model:
    Three
    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.
     
  3. Boo

    Boo Boola Boola Member

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  4. esears1

    esears1 New Member

    Joined:
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    Vehicle:
    2007 Prius
    Is this 787.50 clean? or is this tax break giving me actually $30 clean?? :>
     
  5. JimN

    JimN Let the games begin!

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    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.
     
  6. LYLUVLY

    LYLUVLY New Member

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    2007 Prius
    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?
     
  7. esears1

    esears1 New Member

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

    Joined:
    Sep 15, 2007
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    Location:
    New Jersey
    Vehicle:
    2008 Prius
    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?
     
  9. frosh

    frosh New Member

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

    frosh
     
  10. JimN

    JimN Let the games begin!

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