Hi All,

I have read a few posts and am trying to gain a clear understanding of what the 2006 Tax credit is for a Prius purchased in 2006. Let's say, April 2006, since I have put a deposit on one this month.

I think we are under the 60,000 unit quota at this point. Can someone explain how it works? I read that it was a $3150 credit, not deduction which is great. Forgive my ignorance, but is this a one time thing? And, is there anything in particular you must fill out ahead of time? Or come tax time next year, you just get it?

Thanks in advance to anyone who can thoroughly explain how it works.