I bought a hybrid auto are there any deductions?

wtexxas27 · ‎February 17, 2026

xmasbaby0

If you purchased a new 2025 car in 2025 you may be able to deduct the interest on the car loan.

CAR LOAN INTEREST

Go to Federal>Deductions and Credits>Cars and Other Things You Own>Car Loan Interest

The amount will go on Schedule 1a and end up on Form 1040 on line 13b

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

DoninGA

You may be eligible for a federal tax credit of up to $7,500 for a new plug-in hybrid (PHEV) or up to $4,000 for a used one, provided the vehicle meets specific requirements regarding battery capacity, MSRP, final assembly in North America, and your income. Traditional hybrids that do not plug in generally do not qualify.

For an energy-efficient vehicle tax credit

Click on Federal Taxes (Personal using Home & Business)
Click on Deductions and Credits
Click on I'll choose what I work on (if shown)
Scroll down to Cars and Other Things You Own
On Energy-Efficient Vehicles, click the start or update button