Question about qualification

The federal tax credits are over with for the Prius. In fact, with your 2004 model, you would have had to claim it with your 04 tax returns. Only buyers of NEW vehicles were eligible. Buying 'used' doesn't count. For any tax credit, state or federal, you have to apply in the year you bought the car new.

 

Just bought a 2009 Prius. Am I eligible?

 

PHP:

The federal tax credits are over with for the Prius. 


I did my taxes using TaxCut2008 and added info on the 2008 Prius I bought in Aug. 2008 and it gave a $700+ tax credit. After doing some research, it seems the dates in the software are off by 1 year. Not a mistake they want to be making.

 

What I received from My dealer:
Those who buy a new car between now and December 31, 2009 can deduct state and local sales and excise taxes. The purchase price limitation cap is $49,500.

So, the credit for Hybrids is over, but you will be able to deduct taxes from next years tax return for cars purchased this year.

 

I heard that there are tax credits when purchasing batteries to convert to a plug-in. I bought a used 2007 with one of these batteries preinstalled in January 2009. Am I eligible for any type of tax credit?

 

That credit started Feb 17, 2009.

 

The credit for the Toyota/Lexus hybrids expired 9/30/2007. The Honda hybrid credit expired 12/31/08. Credits are still available for other manufacturers' vehicles. The credit phases out once a manufacturer sells its 60,000 hybrid. I believe only toyota and honda have sold over 60,000 hybrids so far. The idea is (this is my own commentary now) to punish the manufacturers who build the best hybrids and therefore sell the most.

 

Ford sold #60,000 in Q4 2008, so phase out starts 4/1/9 for them, and ends 3/31/10.

 

I wonder if I would apply being I bought the car on February 20th used.....does it apply for used cars with the battery installed already?

 

I am guessing no because the battery was installed before 2/17. I will check when I get back to the office.

Dave