Randall Posted April 27, 2016 Report Share Posted April 27, 2016 I'm looking all over for credit info on autos. New 2015 Prius. Hybrid gas/battery. Has this been phased out? Does it have to be a plug-in now to qualify for a credit? Quote Link to comment Share on other sites More sharing options...
Elrod Posted April 27, 2016 Report Share Posted April 27, 2016 Two locations to try, Randall...Hope they help ya, http://www.efile.com/tax-credit/hybrid-car-tax-credit/ https://www.irs.gov/uac/Summary-of-the-Credit-for-Qualified-Hybrid-Vehicles 1 Quote Link to comment Share on other sites More sharing options...
FDNY Posted April 27, 2016 Report Share Posted April 27, 2016 I believe it has to be a plug in hybrid or electric. You could also check out Edmunds.com for an easy to read list of models and their credit. 1 Quote Link to comment Share on other sites More sharing options...
Randall Posted April 28, 2016 Author Report Share Posted April 28, 2016 Thanks for info. This was what I was seeing too. Client doesn't have the plug-in. So no credit available. I think the salesmen are telling them they get a tax credit. 1 Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted April 28, 2016 Report Share Posted April 28, 2016 1 hour ago, Randall said: Thanks for info. This was what I was seeing too. Client doesn't have the plug-in. So no credit available. I think the salesmen are telling them they get a tax credit. Ahhhh yes!! The salesman tax professional... 1 Quote Link to comment Share on other sites More sharing options...
Catherine Posted April 28, 2016 Report Share Posted April 28, 2016 38 minutes ago, Jack from Ohio said: Ahhhh yes!! The salesman tax professional... Always ask for the manufacturer's certification. *Those* you can (pretty much) rely on. "Pretty much" because the credits are limited and the manufacturer's certification means the cars qualifies, but not that any credits are left to claim. But without that certification, it's just a sales pitch geared to making you pay more for the car (after all you're going to get that lovely credit, right?). 2 Quote Link to comment Share on other sites More sharing options...
Lee B Posted April 28, 2016 Report Share Posted April 28, 2016 The reason you need the manufacturer's certificate is that the number of each manufacturers model that qualifies for a potential credit is limited by a numerical cap that set by the government, so that people who buy a popular model near the end if the year will never get a credit. 1 Quote Link to comment Share on other sites More sharing options...
FDNY Posted April 28, 2016 Report Share Posted April 28, 2016 The Tesla S may be the first ever to make that 200K vehicle quota so make sure you get to the showroom early. I think they're around $150K, but think of all the gas you'll be saving, until you get the bill for the new battery, yes, they need to be replaced just like any other battery and they are expensive. Really nice automobile. 1 Quote Link to comment Share on other sites More sharing options...
joanmcq Posted April 29, 2016 Report Share Posted April 29, 2016 The regular Prius credit expired long, long ago. It was the first one to be depleted when hybrids had credits. 1 Quote Link to comment Share on other sites More sharing options...
Randall Posted April 29, 2016 Author Report Share Posted April 29, 2016 On 4/28/2016 at 11:53 AM, Catherine said: Always ask for the manufacturer's certification. *Those* you can (pretty much) rely on. "Pretty much" because the credits are limited and the manufacturer's certification means the cars qualifies, but not that any credits are left to claim. But without that certification, it's just a sales pitch geared to making you pay more for the car (after all you're going to get that lovely credit, right?). How long does it take the IRS to notify someone who took the credit and wasn't qualified? I asked a friend who bought a Prius in 2014 if he had a plug-in. He said no but his wife prepared their tax return and took the credit. Uh oh. I didn't do the return and had nothing to do with it. I was wondering if they'll get a notice and owe the credit back. 1 Quote Link to comment Share on other sites More sharing options...
FDNY Posted April 29, 2016 Report Share Posted April 29, 2016 I did have a 2014 credit amount that was taken in error and taxpayer was notified in less than a year. Quote Link to comment Share on other sites More sharing options...
joanmcq Posted April 30, 2016 Report Share Posted April 30, 2016 The credit requires you to input the VIN for the car. They should be getting a notice anytime, depending on when they actually filed the return. 2 Quote Link to comment Share on other sites More sharing options...
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