Hybrid vehicle credit

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  • taxmandan
    Senior Member
    • Oct 2005
    • 1037

    #1

    Hybrid vehicle credit

    Am I reading this right? Toyota vehicles no longer qualify for any alternative motor vehicle credit? Looks like they phased out on Sept. 30, 2007. I just had a good client call and brag about her new Highlander and ask what papers she needs to claim the credit on her tax return next spring. The salesman told her it would be a $1,500 credit.
    "A man that holds a cat by the tail learns something he can learn no other way." - Mark Twain
  • Bees Knees
    Senior Member
    • May 2005
    • 5456

    #2
    That was posted on the updates page on 11/19/2007.

    TheTaxBook is the #1 fast-answer tax publication in America. Our publications provide fast answers to tax questions for tax practitioners!


    Ford hybrids are in their phase-out stage as well.

    TheTaxBook is the #1 fast-answer tax publication in America. Our publications provide fast answers to tax questions for tax practitioners!

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    • AuditorTurnedGood
      Senior Member
      • May 2008
      • 326

      #3
      Always exciting when car salespeople, real estate agents and mortgage brokers give tax advice.
      "Congress has spoken to this issue through its audible silence."
      Anyone ever notice they beat the daylights out of the definition of a child, but they don't spend much time at all defining "parent"?

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