Sunday, October 11, 2009

How do I get the tax credit for the 2006 Toyota Highlander Hybrid I purchased in January?

If you had bought it in December you could file it this year but since you bought it in January you will have to wait until next year, but a tax preparer should be able to handle that for you when you tell them about the vehicle.

How do I get the tax credit for the 2006 Toyota Highlander Hybrid I purchased in January?
Assuming you mean Jasnuary 2006 you will take a credit next year when you file your 2006 return due april 15, 2007. I am 97% sure that this credit is being phased out in 2006, meaning your credit will be only $500, NOT $2000. Thank our wonderful US Congress. Imagine phasing out a tax credit that encourages fuel use reduction.


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