Prius Prime Preliminary State Tax Credit Discussion

Discussion in 'Prime Main Forum (2017-Current)' started by wjtracy, Mar 28, 2016.

  1. pghyndman

    pghyndman Active Member

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    The blurb at the end of Part 1 states:

    Next: If you did NOT use your vehicle for business or investment purposes and did not have a credit from a partnership or S corporation, skip Part II and go to Part III. All others, go to Part II


    If you are not claiming for business, skip Part II (lines 5 - 14). Ergo: it does NOT apply to you!
     
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  2. The Big Sleaze

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    thx! I really suck at Tax stuff. Guess who sucks even worse....Toyota Dealers! I happened to first call and visit Dealers on Dec 1 and 2. Same dumb Dealer Talk from all of them. 4 phone calls from each demanding to know when I could "come in" etc. Not a single one clued me in that on Dec 3 about $1500 of Free Govt Money was going away. When asked why they just cost me $1500 they all basically said "oh, that Govt stuff is SO hard, how can you expect us to keep up with it". It wasn't CA's or Congress's idea to give the Rebates, it was "lobbying" by Toyota (and Tesla). Obviously, there were big repeated memos and big slick promo packages sent to all Dealers saying "look what we just did to help you sell cars! FREE MONEY! tell all customers!"
     
  3. wjtracy

    wjtracy Senior Member

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    I cannot comment on business use tax return.
    Normally you are deducting the credit for the year of purchase, but I think the rule says date vehicle was put into service.
     
  4. The Big Sleaze

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    PS-another dumb question.

    CA wants a copy or scan of my complete purchase contract. Mine is 27" long and with back filled with Fine Print. Do I just copy or scan the whole thing bit-by-bit with minor over-lap so it will be a total of 6 pages of partial document???
     
  5. Gokhan

    Gokhan Active Member

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    You put 0% in Line 5 and 0 in Lines 6, 11, 12, 13, and 14 if you are not a business owner.

    You put 4502 in 4a, 4c, 15, 18, 19, 23 and 100% in 4b. You put 0 in Line 21 and 8948 in Lines 20 and 22.

    Meanwhile it's been over two weeks and I'm still waiting for my refund.
     
  6. Gokhan

    Gokhan Active Member

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    It is the whole thing.

    Some utility companies like Southern California Edison in my case also have rebates and check the website of yours.
     
    #166 Gokhan, May 16, 2020
    Last edited: May 16, 2020
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  7. hill

    hill High Fiber Member

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    we used cell phones for pictures, cropped them, then turned all of them into a single PDF.
    .
     
  8. Gokhan

    Gokhan Active Member

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    Oh, I see, they have reinstated a $1,000 reduced California CVRP rebate for the current Prius Prime. The $1,500 CVRP rebate had expired on December 3, 2019. I was wondering.

    Yes, you need to scan the whole purchase agreement. You can use a smartphone scanning app as hill said if you don't have a scanner.
     
    #168 Gokhan, May 16, 2020
    Last edited: May 16, 2020
  9. The Big Sleaze

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    Gee, sure would be nice if Dealers gave you a nice digital version of your Contract, in addition to the paper hard-copy, or at least had it all on A4 size normal paper. I've seen some pretty kinky contracts in construction biz and they are all on normal size paper or at most "legal size".

    Mine kinda has two columns of boxes so there are no good starting or stopping points to scan and crop into one coherent document.
     
  10. yaun

    yaun Member

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  11. Gokhan

    Gokhan Active Member

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    How long does it take the IRS to process the tax credit? It's been over a month since I filed my tax return electronically, and there is still not a word.
     
  12. Gokhan

    Gokhan Active Member

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    California Clean Fuel Reward is replacing the Southern California Edison (SCE) Clean Fuel Reward Program.

    Coming in:

    California Clean Fuel Reward | EV Rebates and Incentives

    Going out:

    Clean Fuel Reward Program | SCE Clean Fuel Reward Program

    Summary of the changes:
    • The new program will be available to all California residents shopping at participating dealers.
    • The rebate will decrease from $1,000.00 to $900.11.
    • The rebate will be point-of-sale type at the dealer instead of post-sale type with an application and will be applied after tax when the purchase contract is made, just like the Toyota factory rebate. If you get a loan, it will go toward your loan instead of coming to your pocket as cash as with the SCE rebate.
    • You can't apply to both the California and SCE rebate.
    • The program started on November 17, but the dealers need to participate. Therefore, check before you shop.
    • The deadline to submit the application for the SCE rebate is December 31, 2020, 11:59 PM PST. Note that the online application requires the permanent registration card; so, the time is running out for it. The SCE rebate is only available to SCE customers. The rebate recipient agrees to keep the car for at least 20 months or a prorated refund to the program may result.
     
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  13. Gokhan

    Gokhan Active Member

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    I've received the new license plates and registration card in record time in four weeks (plus one day because the mailman didn't get to my house by 9 PM last night) and now submitted the soon-to-expire SCE application for a $1,000 credit!

    Also note that the $1,000 federal EV-charging (alternative-vehicle fueling) tax credit will expire at the end of the year in case you want to have an EVSE installed.
     
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  14. Gokhan

    Gokhan Active Member

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    Bad news came from the CVRP administrator:

    This email is regarding the following rebated vehicle:

    Vehicle Model: Toyota Prius Prime
    Vehicle Year: 2020
    Rebate Amount: $1,500.00

    The rebate application requirements that you agreed to state that you must retain your vehicle for a minimum of 30 months or CVRP reserves the right to recoup funds from the original vehicle purchaser. It has come to our attention that you have traded in the above listed vehicle. The California Air Resources Board (CARB) provides two options for handling the early trade-in of our CVRP rebated vehicle:

    1. Pay a prorated rebate amount for the original vehicle, apply for a rebate for the new eligible vehicle, and restart the ownership requirement if you meet the eligibility requirements at the time of application submission for the new vehicle. The prorated rebate amount is calculated by dividing the original rebate amount by 30 months and multiplying that result by the remaining number of months in the ownership requirement. Our records indicate that you purchased the rebated vehicle on 9/24/2019 with a last date of ownership on 11/16/2020. Based on these dates, you possessed the vehicle for 14 months. The portion of the rebate that you must return is $800.

    2. Transfer your original rebate to your new vehicle. You would not have to pay the prorated rebate amount but instead we would update the vehicle information on the original application and continue with the original ownership time requirement (starting from 9/4/2019). Please note that the new vehicle must be purchased/leased within 30 days of the last date of ownership for your rebated vehicle. To be considered, the replacement vehicle must be on the current list of eligible vehicles at the time the replacement is made, or be the exact same vehicle that was originally rebated. This option would not allow you to apply for a rebate for the new vehicle, because we would be updating your original application with your new vehicle information.

    Please let me know which option you would like to choose as soon as possible.

    If you choose Option 1, within 30 calendar days from the sale of the vehicle, please mail a check for $800 made out to the Center for Sustainable Energy to the address below:

    Center for Sustainable Energy
    Attn: ... ...
    3980 Sherman Street, Ste. 170
    San Diego, CA 92110

    If you do not comply within 30 days of the sale of the vehicle, this matter will be referred to CARB for resolution including potential legal action and/or any other remedy available under law.

    Please note until payment is received your new application will remain on hold.

    Thank you for your cooperation, and please do not hesitate to contact me if you have any questions or concerns.

    Best Regards,

    ... ...
     
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  15. wjtracy

    wjtracy Senior Member

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    so help me a little bit, you decided to sell the Prime?
     
  16. Gokhan

    Gokhan Active Member

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    I traded in my 2020 Prius Prime XLE Classic Silver Metallic for a 2021 Prius Prime Limited Blue Magnetism.
     
  17. Salamander_King

    Salamander_King Senior Member

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    Just take option 2. You purchased a new 2021 PP, so just transfer your original rebate to your new vehicle. Of course, that means you can not apply for the new $1,000 California CVRP rebate for your current 2021 Prius Prime. Problem solved.
     
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  18. Gokhan

    Gokhan Active Member

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    Nope, I have taken Option 1 because I am paying $800 and getting $1,000 in return, profiting $200. If I took Option 2, I wouldn't make a profit or loss.
     
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  19. utsug

    utsug Active Member

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    Same here I took option 1 since I replaced my Prime with Bolt which has a bigger rebate.
     
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  20. wjtracy

    wjtracy Senior Member

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    Oh boy so it sounds like a fairly common practice based on the this scientific survey
     
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