I'm new here and considering a 2010 Prius. Is there currrently a federal tax rebate for the 2010 Prius? I searched the forum and found nothing newer than 2007. I visited a dealer today and the salesman didn't know. That sounds like there is none. Thanks, Monte
New Car Tax Rebate- Obama Economic Stimulus Plan: Cash Back on 2009 Vehicle Purchase, Not Tax Credit on Federal Return | Suite101.com
It's nothing compared to that awesome $3150 I got back in the form of a credit when I had bought my 2006... Question if anyone knows... If someone purchased 2 2010 Prius' in the year 2009 can they claim both for this federal tax rebate?
Thanks, It looks like there might be a deduction in the amount of the sales tax paid in 2009, but this is not for energy efficiency.
No more tax credit for prius. The number of vehicles sold in the US exceeds the maximum for tax credits. In other words, the incentive to buy high mpg vehicles has worked for the prius. There are still incentives left for other less desirable vehicles.
Not that I'm doubting you, hotbrass, but where did you get that information? :help: I'm going to the dealer tomorrow to buy his only Prius. It's a white Prius III with everything I need or want except body side molding. I see the PC Store has that so it's no problem. If the dealer has it, I'll let him install it for me unless he tries to get in my knickers on the price.
He's right, it ran out for the Prius a long time ago but other less popular hybrids still have the credit available. Though their credit is not as high as the Prius was...
Info about the hybrid tax credit the others above are talking about. Federal Tax Incentives (United States) | Hybrid Cars
If it's any consolation, some states waive sales tax on high-mpg cars. Connecticut, where I live, is one... I saved 6%!
Also, your adjusted gross income needs to be less than 125k single, or 250k married to even qualify for the deduction. This could pose a problem for some.
I think we're talking about different incentives. You guys seem to be talking about a tax credit which has expired for the Prius. I was talking about a tax deduction for purchase of an automobile (not necessarily energy efficient) for purchases made in 2009. You can deduct the sales tax paid from your gross income is my understanding. This is part of the economic stimulus package. Hopefully H&R Block will know how when it's time. Thanks to all.
Yup... that is probably your best bet for tax information! I do my own taxes and would like to know the answer to your question as well.
Hotbrass is right, each car company only gets a certain number, e.g 60,000 - toyota ran out A LONG time ago.
After Toyota, Honda ran out too. And then Ford also, though that happened recently enough that its buyers still get the reduced phase-out credit until March 31. I'm not sure GM and Chrysler will ever reach this limit. Though years too late for the federal deal, I did get my state's sales tax exemption (9.5%) before the budget crisis caused an early program termination. This was a much better deal than the federal tax deduction for the sales tax, especially when unemployment has drastically cut the value of any deductions.
Even the salesman dont know the tax credit ran out years ago on the Prius. Mine didnt, and he couldnt believe I would know better. I am taking the new car tax deduction also. It aint much but every little bit helps.
And its only for States with state income tax. States without could always deduct sales tax if you itemize. Texas is one of those states.
No, it is better than that. It is also for the people in no-income-tax states who don't have enough deductions to itemize. On my tax forms (if I hadn't snagged the state tax exemption before it expired in July), it starts on Line 10 of Schedule L, Standard Deduction for Certain Filers. I hope the rest of you have also started your draft 2009 federal tax forms already, too?
