Hybrid TAX Break Question

[Netranger007]

Can anyone explain how the TAX break works for th Camry? I just ordered a 07 Camry Hybrid and I heard of the tax break. The IRS listed a $1,300 for the 07 Camry. Is this the amount the IRS plans to refund once you file your 06 taxes? Thanks for the HELP!

[schmidtj]

Originally Posted by Netranger007

Can anyone explain how the TAX break works for th Camry? I just ordered a 07 Camry Hybrid and I heard of the tax break. The IRS listed a $1,300 for the 07 Camry. Is this the amount the IRS plans to refund once you file your 06 taxes? Thanks for the HELP!

It's not a refund it's a tax credit. You take $1300 off the taxes you owe the IRS when you file your '06 tax return next year.
J

[jerryray]

Originally Posted by schmidtj

It's not a refund it's a tax credit. You take $1300 off the taxes you owe the IRS when you file your '06 tax return next year.
J

I thought it was double that number. Perhaps it's the date you purchased the car.
We got ours in August.

[H2ODoctor]

The credit is $2,600 for camry hybrids purchased and received between 1/1/06 and 9/30/06. If purchased and received 10/1/06 or later it will be $1,300 for I believe 6 months, after which time it drops to $650. This is a credit, not a deduction.

[FlopShot]

Go to the Toyota Camry Hybrid webpage, and there is a link at the bottom for all the tax credit information, including the proper form that you will need to fill out.

http://www.toyota.com/camry/index.ht...N_HYBRID_CAMRY

[REV800X]

Originally Posted by FlopShot

Go to the Toyota Camry Hybrid webpage, and there is a link at the bottom for all the tax credit information, including the proper form that you will need to fill out.

http://www.toyota.com/camry/index.ht...N_HYBRID_CAMRY

Maybe I'm missing it, but have looked several times there... Any more info would be appreciated.

Thanks.

[schmidtj]

Originally Posted by REV800X

Maybe I'm missing it, but have looked several times there... Any more info would be appreciated.

Thanks.

Is this one any better?
http://www.toyota.com/vehicles/2007/camry/tax.html