tax credit for used hybrid?
#11
Re: tax credit for used hybrid?
When I read the tax form from the IRS NOWHERE did it ask for a vin or any proof of purchase. I also heard that the owner must keep the vehical at least 6 months to claim the credit.
#12
Re: tax credit for used hybrid?
It's done by date in which the car was put into service... not by VIN. I went through this already with my accountant, who had to look it up. You don't send in anything in terms of proof of the sale. These days the IRS wants very little in terms of paperwork submitted... but if they question your filing and decide to audit, you'd better have the paperwork to back it up. In the case of this tax credit, what you need is some way to prove the date at which the car was first put into service. A bill of sale showing when the car was titled & registered to you should suffice.
#13
Re: tax credit for used hybrid?
Well IMO it kinda great if 60,000 hybrid or advance lean burn technology vehicles of a particular manufacturer are sold, the tax credit is reduced and eventually eliminated.
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