IRS Taxes and EVs: No writeoff?

[Puppyjump]

Did my taxes using Turbotax. The "alternative fuel" vehicle portion of the itemization section of the taxes said there was a writeoff for hybrid cars, but not EV's. Does this sound crazy?

 

[Greywolf67]

Well no, not crazy, more just basicly stupid!!!

Go back to the time of the EV1
If you were a small business owner, and were going to buy a car for your company

Tax Creidts available at the time:
$100,000 in write off for Hummer, Caddy SUV....bla bla bla ( enter huge gas guzzler name here in SUV form)

$4,000 for EV1, Toyota Rav4 EV, Ford Th!nk

No suprise at all.......pitch the car that still uses gas for Tax Credit, and smack the Eco Friendly Cars.

 

[dogman dan]

There should be a 30% rebate for purchasing an electric bike, and even more for purchasing lithium batteries for an EV. It's as good for the country as PV, and they get a tax incentive.

 

[snowranger]

The thing with the Prius though was that the tax credit actually helped to increased the market price of the car in 2006. On top of that, we couldn't take advantage of it because of AMT. Screwed both ways there. Still love the car though. I dunno, got mixed feelings on govt subsidies.

 

[John in CR]

It's my understanding that the new credit for plug-in EVs is effective for qualifying vehicles purchased after Dec 31 2008. During my research of the credit for plug-ins included in the 800B bailout late last year, I seem to recall seeing some previous credits for EVs, but I'm not surprised that something like Turbo Tax would miss something.

John