HCH II-Specific Discussions Model Years 2006-2011

2008 Tax Credit

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  #11  
Old 02-02-2009, 12:55 PM
larryr's Avatar
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Join Date: Dec 2008
Location: Bentonville, AR
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Default Re: 2008 Tax Credit

IRS has not finished the 2008 Form 8910 for the hybrids yet ( estimated date is Feb 11 ).

The IRS will not give an opinion until the Form 8910 has been finalized.


http://www.irs.gov/pub/irs-pdf/f8910.pdf is still the 2007 version
 

Last edited by larryr; 02-02-2009 at 12:58 PM.
  #12  
Old 02-03-2009, 03:09 PM
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Default Re: 2008 Tax Credit

However, I just filed my tax return and got credited 525.- on it.
Bought a 2009 in November 08.
 
  #13  
Old 02-11-2009, 08:03 PM
larryr's Avatar
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Location: Bentonville, AR
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Default Re: 2008 Tax Credit

Originally Posted by larryr
IRS has not finished the 2008 Form 8910 for the hybrids yet ( estimated date is Feb 11 ).

The IRS will not give an opinion until the Form 8910 has been finalized.


http://www.irs.gov/pub/irs-pdf/f8910.pdf is still the 2007 version
Honda Did Not Qualify the 2009 Civic - the Feb 11 electronic forms will blank if you select 2009 as year and Honda as make. 2008 is ok, it will show Civic cvt.

Sorry Folks NO TAX CREDIT for the 2009 Honda Civic Hybrid.

If you claim it you get audited and will have to pay the $525 tax plus penalties and interest. File an ammended return ASAP if you did claim it.

Not tax advice - just a suggestion. For 20 years I got audited every year because I wrote most of the tax programs in the 70's. I was glad when they retired all my old software. I never had any problems.
 

Last edited by larryr; 02-11-2009 at 08:09 PM.
  #14  
Old 02-21-2009, 10:17 AM
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Location: Tampa, FL
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Default Re: 2008 Tax Credit

Don't forget to write off the state sales tax you paid for your vehicle if you purchased it in 2008! My estimated sales tax deduction was $700, as calculated by the IRS. But Turbo Tax showed me that I could write off the $1700 in sales tax I paid when I bought my Honda.
 
  #15  
Old 03-10-2009, 06:53 PM
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Default Re: 2008 Tax Credit

2008 form 8910 is now on www.irs.gov/forms. It specifically states "Honda vehicles purchased during 2008 qualify for the credit".
 
  #16  
Old 03-11-2009, 04:03 AM
larryr's Avatar
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Location: Bentonville, AR
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Default Re: 2008 Tax Credit

go to the instructions for the hybrid form 8910 at this link and read page 2 http://www.irs.gov/pub/irs-pdf/i8910.pdf . On page 2 is the list of what you can deduct - only 2008 model year Honda civic qualifies - no 2009 Honda is in the 2009 section. The 2008 is in the list.

You claim a 2009 Honda civic hybrid, you will get a letter asking for repayment of the credit and if after April 15 they will want penalty and interest too.
 
  #17  
Old 03-11-2009, 06:41 AM
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Default Re: 2008 Tax Credit

Remember that purchased can mean "Ordered" for the qualification for the incentive. If you have a purchase order dated before the quarterly cut-off, you can claim the qualified amount for that quarter. Claim it for the tax year that you took possession of the vehicle.

If you ordered in December of 2008 and took possession in Feb. of 2009 - you qualify for the tax incentive allowable in the last quarter of 2008 and you claim it in 2010 when you do your 2009 taxes.
 
  #18  
Old 04-09-2009, 06:37 PM
okie mom's Avatar
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Default Re: 2008 Tax Credit

Found this today on IRS site, seems 2009 hch was added sometime before 3-19-09.

http://www.irs.gov/businesses/corpor...203909,00.html

Although turbo tax doesn't represent it yet.
 
  #19  
Old 04-09-2009, 07:18 PM
larryr's Avatar
2nd Hybrid Owner
Join Date: Dec 2008
Location: Bentonville, AR
Posts: 106
Default Re: 2008 Tax Credit

Originally Posted by okie mom
Found this today on IRS site, seems 2009 hch was added sometime before 3-19-09.

http://www.irs.gov/businesses/corpor...203909,00.html

Although turbo tax doesn't represent it yet.
Unless the IRS updates the Form 8910 to reflect that change it is not a valid deduction. Only the Form 8910 is the bible in tax court and it does not show 2009 Honda as a valid choice.

go to the instructions for the hybrid form 8910 at this link and read page 2 http://www.irs.gov/pub/irs-pdf/i8910.pdf .

I wish it did. I could use another $525.00.
 
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