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Federal Tax Deduction??

Discussion in 'Prius v Main Forum' started by B-52, Mar 27, 2013.

  1. B-52

    B-52 New Member

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    New Prius v owner...last saturday...actually my Wife's car....

    Anyway, every year doing my Federal taxes, there ias always a question about whether or not a "Hybrid or Alternative fuel motor vehicle" was purchased.
    Not that we qualify for 2012, but for 2013......

    Anyone have info regarding this?
     
    #1 B-52, Mar 27, 2013
  2. JimboPalmer

    JimboPalmer Tsar of all the Rushers

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    #2 JimboPalmer, Mar 27, 2013
  3. wjtracy

    wjtracy Senior Member

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    As Jimbo said, the Federal tax credit for hybrids ended in 2010. For Prius it ended much earlier. I bought my Prius in Sept_2006 at the very last month of the full $3150 Prius tax credit. After that the credit went down to 50%. In those days, the tax credit law was not so good: you had to do an AMT calculation to see if you were allowed to keep the credit. I got partial credit.

    Today on Plug-In Prius (PiP) there is $2500 Fed tax credit. A very few states (OR, maybe CO) give some tax credit for regular Prius.
     
    #3 wjtracy, Mar 27, 2013
    JMD likes this.
  4. JMD

    JMD 2012 Prius 4 Solar Roof

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    Now you have to buy a farm or drill for oil. :)
     
    #4 JMD, Mar 27, 2013
  5. B-52

    B-52 New Member

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    Oh well, Thanks!
     
    #5 B-52, Mar 27, 2013
  6. JMD

    JMD 2012 Prius 4 Solar Roof

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    Gov is in the business of raising taxes, corporate welfare, and caring for the poor.

    The middle class the majority we have to shoulder the burden and take care of our families and ourselves.

    I'm reminded it could be worse.
     
    #6 JMD, Mar 27, 2013
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