Honda hybrid gets clean car tax deductions

Honda hybrid gets clean car tax deductions 3889 times read

The Insite

Honda Accord Hybrid car, Honda Civic Hybrid and 2005 Honda Insight has been certified by Internal Revenue Service for clean car tax deductions. So next time a person is going to purchase a hybrid car as above, he could claim a tax deduction of $2,000 on Form 1040. This is a welcome news for the environmentalists and hybrid car lovers where the price margin between hybrid cars and non hybrid will be reduced a bit.

The deduction is only for 2004 and 2005. No deduction will be allowed after 2006. The laws allows a deduction for the increased cost for buying a vehicle that run on clean fuels. Hybrid cars with a combination of electric motor and gas engine, is able to save a substantial amount of fuel then a gas only car.

Date of this item added : 2005-02-15

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Honda hybrid cars are eligible for clean car tax deductions