Re: No 2006 Tax Credit for Honda Insight?
 

Check the IRS website. I just bought a 2005 Insight and when I looked at the IRS site, I thought for sure that I got the tax break! MSN may be wrong!!! Guess I'll claim it and let IRS tell me I can't have it! Check out this link from the IRS. They don't seem to distinguish between a manual and a CVT Insight. Please correct me if there is new information out there from the IRS. Thanks.:confused:

http://www.irs.gov/newsroom/article/...104549,00.html

Re: No 2006 Tax Credit for Honda Insight?
 

Yes you are correct, but not for a 2006 model as I had originally posted. I have the same car you have and after congress signed off the energy bill this past July, the tax break for our car was decreased. It's now based on # of cars sold and other factors and since the Insight now sells much less than 1000/year the tax deduction is reduced accordingly. I too wouldn't put a lot of weight on any web site other than IRS but their site isn't as up to date as the official regs either so it's best to consult a tax expert as anything can happen between now and Apr 15. There is no difference in the tax deduction for transmission type, only for the year the car is first put into service by the original owner. So the model year is not the deciding factor, but the year the car was purchased (so a 2006 bought in 2005 gets the 2005 deduction).

It's still crazy that if you have a business you can get a huge tax deduction for buying a Hummer or one of those huge SUVs (over 10,000 lbs.) - much bigger deduction than any hybrid. Just goes to prove the lip service the gov't is putting on saving gas, alternate fuels, etc. when the gas companies are making record profits and they got even more tax credits with the July signing if the 'so called' energy bill.

Deb