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Nissan Altima Hybrid Federal Income Tax Credit

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Comments

  • mjoshimjoshi Posts: 34
    Could you please share the link for looking up bill as I'm planning to buy 08 Altima Hybrid in upstate NY so want to know if I'll save some extra with NY taxes especially will I be paying any state sales tax as well as will there be any state income tax credit for buying Hybrid Altima.
  • No. See the following excerpt from the IRS website.

    Used and Leased Vehicles

    A consumer that leases a hybrid vehicle is not eligible for the credit. The credit is allowed to the vehicle owner, including the lessor of a vehicle subject to a lease. That means that the lessor (the person who leases the vehicle to the consumer) is the person who can claim a credit for the vehicle.

    A credit for a hybrid vehicle can only be claimed by the original purchaser of the vehicle, that is, the purchaser of a new vehicle. The credit does not apply to a used hybrid vehicle.
  • A lot of consumers aren't aware of the fact that once you get your 2350 rebate, you have to keep the car for at least 3 years. If you sell it before the 1st year you will have to pay back the complete 2350. If you sell it just after 1 year, you would have to pay back 2/3rds of your rebate. if you keep it just over 2 years, you would have to pay back 1/3rd of your rebate. This is called IRS Payback. I received 2299 for a rebate, and I'm not sure why.
    I purchased my Altima in June of 2008. I traded in another car. They worked off full retail of 33,500 on my trade, but I still did a good trade. I've had the Altima for 14 months and it has been flawless. I get 34 no matter how I drive it. I do intend to keep it for the 3 full years. Cheers! : :)
  • ndanndan Posts: 14
    this if from the irs website....so I suppose what this means is that i can get the full credit of 2350 even if i pay the amt?

    "
    Q. Does the Alternative Minimum Tax (AMT) impact the alternative motor vehicle credit?

    A. Starting in 2009, the new law allows the alternative motor vehicle credit, including the tax credit for purchasing hybrid vehicles, to be applied against the alternative minimum tax. Prior to the new law, the alternative motor vehicle credit could not be used to offset the AMT."
  • My 2010 tax credit for purchasing the 2010 Altima Hybrid was recently denied by the IRS. They claim to not have sufficient support about the purchase. I provided sales contract, manufaturers certification and Nissan information on how to read the VIN. Still no luck. I now have to go to Tax Court to claim it. Did anyone have this issue and how did you resolve it? Appreciate any help. Thanks.
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