I want to find out more about how the tax credit works. The stealer never mentioned anything about it while I was buying the car (even though I asked him 2 different times)! I bought my TCH last month, and from reading all the websites I think I am eligible for at least 25% of the original value. However, I am not sure if the tax credit is null and void if Toyota sells a certain number of cars! So my questions are:

1) How do I find out if I am eligible?
2) Assuming I am eligible, what do I need to do at tax time to claim the credit?

 

http://www.irs.gov/newsroom/article/...162562,00.html

http://www.irs.gov/newsroom/article/...157557,00.html

Get Form 8910 from the IRS site and fill it out, using the information from the second link above.

 

I did my taxes online (TaxACT) and it just asked about buying a car, I said yes, filled in the model and date, and it gave me the credit.

Far as I understand, as long as you bought before the end of this month you're potentially eligible for it--it's all based on when they _first_ sold over 60k hybrids (or whatever the number is). That happened last year, so last Oct it went down to 50%, 6 months after that it went down to 25%, and start of Oct this year it goes away entirely. (For Toyotas/Lexi that is.)

Dealer probably just didn't care, it's not their problem.

 

I doubt that the dealer can discuss the tax credit because they aren't licensed tax advisers. The credit also depends on the Alternative Minimum Tax calculation, so doesn't apply to everyone, and they couldn't just state that you qualify for $xxx dollars without analyzing your tax situation.