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$4501.60 US Federal Tax credit

Discussion in 'Prime Main Forum (2017-2022)' started by Marine Ray, Feb 21, 2020.

  1. Marine Ray

    Marine Ray Senior Member

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    For those wondering how Prius Prime gets to $4502 US Federal tax credit. - 2500+417+(3.8 x 417)=4501.6
    87153487_10220952841906645_3155582093791068160_n.jpg
     
    #1 Marine Ray, Feb 21, 2020
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  2. douglasjre

    douglasjre Senior Member

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    Which tax form do I use
     
    #2 douglasjre, Feb 21, 2020
  3. Marine Ray

    Marine Ray Senior Member

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    #3 Marine Ray, Feb 21, 2020
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  4. PT Guy

    PT Guy Senior Member

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    Note--that is a credit against tax owed (or already paid for the year). It is not a refundable credit. You do not get more than your total federal income tax for the year. If you can't use the full amount, it's lost. I think it is applied against the total tax shown on your 2019 form 1040 line 16.
     
    #4 PT Guy, Mar 18, 2020
    B2k, pghyndman, Marine Ray and 1 other person like this.
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