We applied for our rebate but have not yet received the check. I will post the outcome when the IRS releases our money.
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Taxes
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Mailed To me
I. too, love my Prius! I have had it for a year and a half, got the 6th one to
roll into VT in 2000. This year, I filed an amended tax return for the rabate
for alternately powered vehicles. They have requested additional info, which I
am sending tomorrow. Did you apply for this rebate? If so, did you get it? IRS
says it wants some assurance that the car is over 50% electric. If you haven't,
check it out. You'll need form 8834, proof of purchase, and description of the
car.
If anything is asked for, I'll let you know.
Barb Kolar, VT
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I. too, love my Prius! I have had it for a year and a half, got the 6th one to
roll into VT in 2000. This year, I filed an amended tax return for the rabate
for alternately powered vehicles. They have requested additional info, which I
am sending tomorrow. Did you apply for this rebate? If so, did you get it? IRS
says it wants some assurance that the car is over 50% electric. If you haven't,
check it out. You'll need form 8834, proof of purchase, and description of the
car.
If anything is asked for, I'll let you know.
Barb Kolar, VT
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1 - 5 of 5 Posts
G
I just noticed this on http://www.unclefed.com/IRS-Forms/2001/f8834.pdf
Caution: Gasoline/electric hybrid vehicles (such as the Honda Insight or Toyota Prius) that are not powered primarily by an electric motor are not qualified electric vehicles. However, part of the cost of these vehicles (up to $2,000 for a vehicle with a gross vehicle weight rating that does not exceed 10,000 pounds) may qualify for the deduction for clean-fuel vehicles, even if you do not use the vehicle for business purposes. See Pub. 535, Business Expenses, for more details.
Caution: Gasoline/electric hybrid vehicles (such as the Honda Insight or Toyota Prius) that are not powered primarily by an electric motor are not qualified electric vehicles. However, part of the cost of these vehicles (up to $2,000 for a vehicle with a gross vehicle weight rating that does not exceed 10,000 pounds) may qualify for the deduction for clean-fuel vehicles, even if you do not use the vehicle for business purposes. See Pub. 535, Business Expenses, for more details.
G
We have seen that notice (posted on the IRS instructions late summer '01) and deduced that it was not excluding all hybrids, but simply cautioning against the assumption that just because its a hybrid doesn't mean you take the electric vehicle credit. I took it after reading it and seeing all the discussion on it - refer to Yahoo groups and research in the the archives.
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1 - 5 of 5 Posts
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