Help with tax breaks on buying the CR-Z! - Honda CRZ Forum: Honda CR-Z Hybrid Car Forums

chazdawg35 · 01-31-2012, 10:20 PM

Hey Dudes and Dudettes I heard you can claim some tax cuts on buying a new or hybrid car this year. Any suggestions on how to file it would be awesome!

hotboxn · 01-31-2012, 10:23 PM

To my understanding the Hybrid vehicle tax breaks are no longer offered. I would check with an accountant to be sure. Fully electric vehicles do have availability though.

Scotty001 · 01-31-2012, 10:37 PM

^ Correct.

All the Hybrid "Credits" are used up. Gotta go pure electric now-a-days. But if you purchased a new car in 2011 you should be able to claim the state sales tax on it as a "deduction" if you itemize.. Along with all the state tax you paid on all purchases.. It helps..

GoHuskies · 01-31-2012, 11:56 PM

Quote:

Originally Posted by Scotty001

^ Correct.

All the Hybrid "Credits" are used up.

The tax credit was per automaker and expired over time as they each hit sales marks. I think everyone currently offering hybrids and diesels has passed that mark.

Scotty001 · 02-01-2012, 12:04 AM

Quote:

Originally Posted by GoHuskies

The tax credit was per automaker and expired over time as they each hit sales marks. I think everyone currently offering hybrids and diesels has passed that mark.

Yep.. True..

chaos · 02-01-2012, 08:15 AM

I just had my taxes done and everyone above is correct. No breaks on the car.

Neutron256 · 02-01-2012, 11:46 AM

I think there are still some state/local tax breaks for Hybrids, but yeah Federal has long since expeired.

chazdawg35 · 02-01-2012, 08:56 PM

Thanks for the input! I'll check out the sales tax part, like you said Scotty every little bit helps.

Scotty001 · 02-01-2012, 09:05 PM

Quote:

Originally Posted by Neutron256

I think there are still some state/local tax breaks for Hybrids, but yeah Federal has long since expeired.

This maybe true depending on what state you live in. Something probably worth looking into if you have a state income tax.

01-31-2012, 10:20 PM	#1 (permalink)
chazdawg35 Supporting Member Join Date: Jan 2011 Location: Los Angeles Posts: 404	Help with tax breaks on buying the CR-Z! Hey Dudes and Dudettes I heard you can claim some tax cuts on buying a new or hybrid car this year. Any suggestions on how to file it would be awesome! __________________ I-VTEC SOHC+ IMA Last edited by chazdawg35; 01-31-2012 at 10:20 PM. Reason: spelling

02-01-2012, 08:56 PM	#8 (permalink)
chazdawg35 Supporting Member Join Date: Jan 2011 Location: Los Angeles Posts: 404	Thanks for the input! I'll check out the sales tax part, like you said Scotty every little bit helps. __________________ I-VTEC SOHC+ IMA

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01-31-2012, 10:23 PM	#2 (permalink)
hotboxn CRZOTY Join Date: Mar 2011 Location: Crystal Lake, IL Posts: 1,847	To my understanding the Hybrid vehicle tax breaks are no longer offered. I would check with an accountant to be sure. Fully electric vehicles do have availability though.

02-01-2012, 08:15 AM	#6 (permalink)
chaos Senior Member Join Date: Mar 2011 Location: SW PA Posts: 609	I just had my taxes done and everyone above is correct. No breaks on the car.