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Deductions & credits
We purchased 2 hybrid vehicles in 2017- 2017 Toyota Prius IV and Toyota Rav4 XLE.. again, both hybrid. We received the tax credit for both of them, however, earlier this year we received a letter from IRS stating that one of the vehicles did not qualify as THEY stated our tax preparer put "ELECTIC PLUG IN VEHICLE" ..which neither is. They requested purchase information and i sent the information regarding the Prius. I just received a letter 525 stating i owe $8606 as the car did not qualify.
Does it qualify? Can you use 2 hybrid vehicles for the deduction. What do i need to do to "fight" this as i don't have $8K!! HELP !!
‎September 24, 2020
12:44 PM