TCH for sale
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Ridiculously Active Enthusiast
Joined: Apr 2006
Posts: 945
Re: TCH for sale
Scooters, it's definitely been fun and a great experience on here. I was either the #1 or #2 poster on the TCH forum, so it's a little sad to go. I've had a good amount of interest in my TCH for sale at the advertised price, so I doubt it'll be hard to sell. More later... stay tuned...
Beyond AM. Beyond FM.
Joined: Nov 2006
Posts: 199
From: Manassas, VA
Re: TCH for sale
Steve, you'll just have to start posting at http://www.scionlife.com/forums/ and get pads for the xB cubbies at http://www.scionlife.com/forums/view...r=asc&&start=0
Active Enthusiast
Joined: Sep 2006
Posts: 115
Re: TCH for sale
Hi Steve,
Are you aware the reselling your TCH may result in the recapture of the Tax credit? I couldn't find any definitive statements in the IRS about the conditions in which they would recapture the Tax credit, but it looks like they are working on it.
Just something to keep in mind before you finalize your sale..
Are you aware the reselling your TCH may result in the recapture of the Tax credit? I couldn't find any definitive statements in the IRS about the conditions in which they would recapture the Tax credit, but it looks like they are working on it.
Just something to keep in mind before you finalize your sale..
Keeping Toyota Solvent
Joined: Jul 2006
Posts: 1,069
From: Princeton, New Jersey
Re: TCH for sale
Pure FUD. Steve put the TCH into service in the timeframe specified and met all the rules, he took the credit and was fully entitled to it. Just because he sells the car does not take the car out of service. Your theory would require the IRS to change the rules retroactively. Not likely. More like impossible.
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Joined: Sep 2006
Posts: 115
Re: TCH for sale
Pure FUD. Steve put the TCH into service in the timeframe specified and met all the rules, he took the credit and was fully entitled to it. Just because he sells the car does not take the car out of service. Your theory would require the IRS to change the rules retroactively. Not likely. More like impossible.
http://www.hybridcars.com/federal-incentives.html
The new law for the hybrid tax credit might require taxpayers to recapture their hybrid tax credit if they re-sell their hybrid car or truck.
Recapture: Penalty for Selling Your Hybrid Car Early The new law for the hybrid tax credit requires taxpayers to recapture their hybrid tax credit if they re-sell their hybrid car or truck. Further details will be provided by the IRS when they issue regulations to interpret and implement this new tax law. For now, I would advise against selling, leasing, or giving hybrid cars away until we find out how long you have to keep the car.
These rules include: (1)rules under which lessors may claim the credits allowable under §30B; (2)the rule preventing the credits from being used to reduce alternative minimum tax liability; and (3) rules relating to recapture of the credit. The Service and Treasury Department expect to issue separate guidance relating to these rules
I just wanted to arm Steve with this knowledge cuz it would suck to have to find out later on that the IRS wants its tax credit back.
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Re: TCH for sale
I didn't get a dime from the tax credit, but appreciate the good thoughts anyway! And, Vince, you're right of course. I can always drop in anytime. Jay, thanks for the link... I am loving the Xb... too bad it's not a hybrid tho'.
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Posts: 945
Re: TCH for sale
Well, I sold my TCH today to a friend of my neighbor. His last car was a 1977 model that he bought new, and he couldn't imagine all the advances that have occurred in the past 30 years. Showing him the TCH's capabilities was quite an interesting process, and I'm glad it went to someone so nice who will marvel at it. Hopefully it will last him quite a long time, and he'll love it as much as I did. Don't bother asking me the price... that's just tacky! Hahaha.
Last edited by stevenvillatoro; Aug 12, 2007 at 10:31 AM.
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