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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15323
Experience:  15years with H & R Block. Divisional leader, Instructor
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Ss the iras srtillgive a 5tax incentive for buying a car

Customer Question

ss the iras srtillgive a 5tax incentive for buying a car such as Toyota prius?
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: About 2 years ago they did give a tax credit of about $7500 tobe taken off your l tax owed, this taken off top of total tax owed.
JA: Is there anything else important you think the Accountant should know?
Submitted: 9 months ago.
Category: Tax
Expert:  Robin D. replied 9 months ago.

Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

Expert:  Robin D. replied 9 months ago.

Credits range from $2,500 to $7,500 for battery-electric and plug-in hybrid passenger cars, based on the size of the battery pack.

The minimum pack size is 4 kilowatt-hours, and the scale runs from 4 kWh to 16 kWh (or more). For example:

  • 2012-2015 Toyota Prius Plug-In Hybrid: $2,500
  • 2013-2016 Ford Fusion Energi & C-Max Energi: $4,007
  • 2011-2016 Chevrolet Volt, Nissan Leaf, Tesla Model S, others: $7,500

The IRS has updated lists so I will see if they have anything on a 2016 Prius

Expert:  Robin D. replied 9 months ago.

Here is link to the IRS page for the Toyota Models

Just click on that link above and it should open for you

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