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Tacoma Tax Credit

Discussion in '2nd Gen. Tacomas (2005-2015)' started by 65tacodude, Jan 29, 2010.

  1. Jan 29, 2010 at 5:40 AM
    #1
    65tacodude

    65tacodude [OP] Well-Known Member

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    Just did my taxes last night and found that if you bought a new car from Feb 17 09 to Dec 31 09 you can qualify for a tax credit on the purchase. My tacoma got me about 400 whompum back. Too bad ill be using it to pay off cc's instead of mods:(
     
  2. Jan 29, 2010 at 5:42 AM
    #2
    Mondwa

    Mondwa Well-Known Member

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    oh thats some bullshit I bought mine in Jan 09 :mad:
     
  3. Jan 29, 2010 at 5:44 AM
    #3
    SURFTACO

    SURFTACO Well-Known Member

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    Wait, what? this is new to me! where did you hear that?
     
  4. Jan 29, 2010 at 5:46 AM
    #4
    BSP4x4

    BSP4x4 Guest

    Nice!!!
     
  5. Jan 29, 2010 at 5:48 AM
    #5
    65tacodude

    65tacodude [OP] Well-Known Member

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    OEM running boards and roof rack. Yellow fog bulbs and WeatherTech mats and window visors.
    Did mine on Turbo Tax last night. I was as shocked as most of yall are
     
  6. Jan 29, 2010 at 5:49 AM
    #6
    SURFTACO

    SURFTACO Well-Known Member

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    Turbo Tax huh? did it give an explanation why?
     
  7. Jan 29, 2010 at 5:52 AM
    #7
    65tacodude

    65tacodude [OP] Well-Known Member

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    It did, but im not to hip on that legal mum-bo jum-bo. It ask did you purchase a new vehicle from feb 17 09 to dec 31 09 and i clicked yes, then just filled in the info and boom...400 smackers(about)
     
  8. Jan 29, 2010 at 5:53 AM
    #8
    Monky

    Monky Member

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    This was part of the "stimulus package". It's technically not a credit, but a tax deduction.
    If you purchased a new vehicle in the date range mentioned by the OP, you can deduct the sales tax on the purchase. Typically, that amounts to about $400-600 actual cash back on an average $20000-$30000 vehicle. :)
    It was certainly a little incentive the dealers knew we had during the last couple weeks of December and they tried to capitalize on it.
     
  9. Jan 29, 2010 at 5:54 AM
    #9
    SURFTACO

    SURFTACO Well-Known Member

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    HAHA, awesome. Gotta love getting money back for owning one of the greatest trucks!
     
  10. Jan 29, 2010 at 5:55 AM
    #10
    65tacodude

    65tacodude [OP] Well-Known Member

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    I know i was happy to see it. Literally pooped in pants:crapstorm:
     
  11. Jan 29, 2010 at 5:55 AM
    #11
    lost1700

    lost1700 Well-Known Member

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    hell yeah, I qualify.
     
  12. Jan 29, 2010 at 6:04 AM
    #12
    SManZ

    SManZ el tráfico más lento se queda derecha

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    Its part of Obama's plan to save America.

    As an incentive for people to buy new cars and jumpstart the auto industry, the taxes on a new vehicle purchase are tax deductible.

    I think some people get to double dip with the cash for clunkers and the sales tax deduction. Not any of us Tacoma owners though. Under that program the Taco was technically a clunker right off the lot.

    Good news for me. I bought two of these damn things this year.
     
  13. Jan 29, 2010 at 6:27 AM
    #13
    dexterdog

    dexterdog My pee parts itch

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    I believe it's a deduction, not a credit.
     
  14. Jan 29, 2010 at 6:39 AM
    #14
    65tacodude

    65tacodude [OP] Well-Known Member

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    Ur right it's a deduction not a credit, but still.....
     
  15. Jan 29, 2010 at 7:04 AM
    #15
    pokeng

    pokeng Married With Children

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    Not true. I bought my taco using the clunkers program. Traded in a 97 F150 4x4 that got 13 mpg. Had to get +5 mpg to qualify for the bigger credit, and the taco was one of the few 4x4 trucks that met the 18 mpg I needed.
     
  16. Jan 29, 2010 at 7:23 AM
    #16
    Banchi94

    Banchi94 Well-Known Member

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    Bummer...I bought mine in May 2008. Guess I missed out on "stimulus". Boo! :eek:
     
  17. Jan 29, 2010 at 7:27 AM
    #17
    VTsullyman

    VTsullyman Member

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    So what program do you guys use to file your taxes?
     
  18. Jan 29, 2010 at 9:45 AM
    #18
    65tacodude

    65tacodude [OP] Well-Known Member

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    did mine on turbo tax
     
  19. Jan 29, 2010 at 9:56 AM
    #19
    SManZ

    SManZ el tráfico más lento se queda derecha

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    Ah, you're right. On FuelEconomy.gov the V6 4x4 automatic gets 18 MPG combined. The manual gets a paltry 15 in comparison and does not qualify. I was only considering purchasing a manual, hence my missing the higher ratings of the automatics.
     
  20. Jan 29, 2010 at 10:01 AM
    #20
    thestrangebrew

    thestrangebrew AlphaPlanner

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    x2 Bought mine in June 2008. Weak...
     
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