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Discussion Starter · #1 ·
I just thought, 'huh, now my 'new' car is officially old. It's a '05 in a '06 world.'

Time for a new one? :wink:
 

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Shhhh. I don't want Phoebe to hear that she is now officially "old". She's very sensitive, you know. ;)
 

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Come on folks, you'll get over it. I felt the same way when Bush was reelected ... oh, wait a minute. I'm not over that one yet!
 

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Discussion Starter · #4 ·
firepa63 said:
Come on folks, you'll get over it. I felt the same way when Bush was reelected ... oh, wait a minute. I'm not over that one yet!
See? So you know what I mean.
 

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TJandGENESIS said:
firepa63 said:
Come on folks, you'll get over it. I felt the same way when Bush was reelected ... oh, wait a minute. I'm not over that one yet!
See? So you know what I
mean.

I'm with you on both counts as well. :(
 

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The one "good" thing about totalling my '05 Prius is that I'm now driving an '06, so i got the tax deduction then and will get the tax credit. woo hoo!
 

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Prius now old

swedishking7 said:
The one "good" thing about totalling my '05 Prius is that I'm now driving an '06, so i got the tax deduction then and will get the tax credit. woo hoo!
Somebody posted in another thread recently that you needed to keep the car for 3 years to qualify for the tax deduction. Don't know if there is an exemption because your car was totalled, but you might want to consult your tax pro to see if you have to "give back" some of the original deduction.
 

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Re: Prius now old

Roger V said:
swedishking7 said:
The one "good" thing about totalling my '05 Prius is that I'm now driving an '06, so i got the tax deduction then and will get the tax credit. woo hoo!
Somebody posted in another thread recently that you needed to keep the car for 3 years to qualify for the tax deduction. Don't know if there is an exemption because your car was totalled, but you might want to consult your tax pro to see if you have to "give back" some of the original deduction.
I'll look into it, but the IRS announcement says the deduction must be taken in the year the vehicle is originally used. That would conflict with having to wait three years before you can declare it. Anyone else know the answer to this?
http://www.irs.gov/newsroom/article/0,, ... 46,00.html
 

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Read it again.

The deduction is for new and placed in service; the 3 year term is for commercial/business usage, NOT private/pleasure use.

I took the $2k in 2004 for my 2004 HCH and then traded it for a 2005 Prius in 2005. I will again get a deduction in 2005 taxes for the Prius and there is no penalty.

Walt
 

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I purchased an '06 in Dec'05, placed it into service in my name... and then gifted it to my daughter in Jan'06. I am also buying an '06 for myself in Jan'06.

Can I take the '05 deduction now for the first Prius... and also the '06 tax credit next year on my new Prius?

/Jim
 

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TJandGENESIS said:
firepa63 said:
Come on folks, you'll get over it. I felt the same way when Bush was reelected ... oh, wait a minute. I'm not over that one yet!
See? So you know what I mean.
i guess i still havent quite gotten over it yet! but i do like the way u think!
:lol:
 

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wstander said:
Read it again.

The deduction is for new and placed in service; the 3 year term is for commercial/business usage, NOT private/pleasure use.

I took the $2k in 2004 for my 2004 HCH and then traded it for a 2005 Prius in 2005. I will again get a deduction in 2005 taxes for the Prius and there is no penalty.

Walt
Not to mention that the 3 year is for the car's qualification for the deduction. So, if you were a business, and were to sell it within 3 years, you would have to be sure that the other business was not going to modify the car so that it wasn't an alternative fuel vehicle anymore. I don't think any of us is going to remove the HSD anytime soon.
 

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Cocoatreat said:
TJandGENESIS said:
firepa63 said:
Come on folks, you'll get over it. I felt the same way when Bush was reelected ... oh, wait a minute. I'm not over that one yet!
See? So you know what I mean.
i guess i still havent quite gotten over it yet! but i do like the way u think!
:lol:
Appointed and stolen isn't the same as elected...
 

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I believe there are a multitude of political forums available. This forum is intended for information and discussions regarding the Prius.
 

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Discussion Starter · #16 ·
Bill Merchant said:
Sometimes older is just older.

Time for a new one.
Perhaps I might...But you know, I have got SO used to the way my car runs...I can't imagine another break in period.
 

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Discussion Starter · #17 ·
ChasSuitt said:
I believe there are a multitude of political forums available. This forum is intended for information and discussions regarding the Prius.
:roll:

I suppose that if we buy the Prius, and chat here, that we lose that part of the brain that thinks about other things besides the Prius...

:roll:

Have a day_
 

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ChasSuitt said:
I believe there are a multitude of political forums available. This forum is intended for information and discussions regarding the Prius.
Charles, some people obsess over things so much that they can squeeze it into ANY topic. I am like that with sex.

Did you know there was a study that said men think about sex 90% of the time?....I don't believe it, what they heck do they think about the other 10%.
 

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Actually, God gave us 6 sence ? A multi-tasking at once. ! Now if you drive the Prius then you will posses 7 sence !
 

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Did you know there was a study that said men think about sex 90% of the time?....I don't believe it, what they heck do they think about the other 10%.
That 10% is probably invested in football and/or cars. :)
 
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