Does a camry hybrid fall into the energy efficient tax break?

jdar86 — Thu, 06 Jun 2019 00:13:16 GMT

No, it does not qualify for the federal tax credit. See b...

HelenaC — Thu, 06 Jun 2019 00:13:18 GMT

No, it does not qualify for the federal tax credit. See below for the Toyota car's that do qualify.

Federal Tax Credits for All-Electric and Plug-in Hybrid Vehicles: Federal Tax Credit Up To $7,500: All-electric and plug-in hybrid cars purchased in or after 2010 may be eligible for a federal income tax credit of up to $7,500. The credit amount will vary based on the capacity of the battery used to power the vehicle. State and/or local incentives may also apply. See https://www.fueleconomy.gov/feg/taxevb.shtml

2012–15 Toyota Prius Plug-in Hybrid $2,500
2017 Toyota Prius Prime Plug-in Hybrid $4,502
This credit does not apply to pre-owned or used vehicles.

The Plug-in Electric Drive Motor Vehicle Credit is reported on Form 8936, the Plug-In Electric Drive Motor Vehicle Credit applies to certain manufactured electric or plug-in hybrid electric vehicles which draw electricity from a battery recharged from an external source of electricity. The credit ranges from $2,500 to $7,500 depending on battery capacity and weight.

TurboTax will ask about your electric vehicle and help you with this credit.

To enter your Plug-in Electric Drive Motor Vehicle Credit:

Log on to TurboTax and click on the orange button, Take Me To My Return.
Click on the Federal Income tab (Personal Tab in the Self-employed version).
Click on Deductions & Credits.
On the Your 2016 Deductions & Credits screen, scroll down to Cars and Other Things You Own.
Click Start/Edit/Update next to Energy-Efficient Vehicles.
Continue with the onscreen interview until complete.

topic Does a camry hybrid fall into the energy efficient tax break? in Deductions & credits

Does a camry hybrid fall into the energy efficient tax break?

No, it does not qualify for the federal tax credit. See b...