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.

 

$787.50 max.

You can find maximum hybrid tax credit amounts here:

Summary of the Credit for Qualified Hybrid Vehicles

 

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.

 

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?

 

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

 

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?

 

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

frosh

 

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