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> forms filled out to claim clean fuel credits for prius in 2004
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post Apr 4 2005, 09:42 AM
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Can someone whose knows tell me what forms they filled out in doing their taxes for 2004 and claiming tax deduction for your Prius? Did you use form 4562? form 8834? Some help would be appreciated.
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post Apr 4 2005, 03:28 PM
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No special forms necessary for the 1040 form. Just fill in line 35 with the words "Clean fuel" and $ 2000 . That's all for the deduction. It's not a credit. Bob jumpsuit1938
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post Apr 4 2005, 05:46 PM
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On the Clean Fuel tax credits: In 2002 I bought my first Prius and claimed $2000 on the 1040 form. I bought a 2005 Prius in 12/04 and our H&R tax guy said the proper claim amount on that car was 10%, or about $2500 - so who am I to quibble with a genuine H&R tax guy?
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post Apr 5 2005, 09:15 AM
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Turbo Tax agrees with the H&R guy, that's what I brought up the question in the first place. That is why I was asking about the additional forms, the way I understand it you don't necsessarily have to be in buisiness to claim on these new forms. Glad to know someone else got the same answer-- Later dan Gary Novosielski
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post Apr 5 2005, 02:51 PM
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Thanks for the info, when I ran my taxes on Turbo-Tax, I also about 10% of the car cost. This was following the software as I filled in my info, it did not use line 35 of the form 1040 Is this what you got? Did you use line 35? Thanks Dan william siprelle
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post Apr 5 2005, 03:43 PM
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The H&R guy did our tax and I don't know what lines he used. He promises he's right on 10% and will pay if he's not!
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post Apr 6 2005, 09:14 AM
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Is it correct to say that the current deduction is only for "entering the vehicle into service"? (One time only for year purchased) Is there any credit or deduction of ongoing use? Michelle Vadeboncoeur
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post Apr 10 2005, 12:04 PM
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I have to say, I was wrong in the way I origanally filled out the deduction for my Prius. I reran Turbo Tax and indeed must have checked on an invalid button that lead the software to think I had an all electric car instead of a hybrid model. When I reran the program, it alloted only $2000 on line 35 as people have said instead of the $2700 I thought I was going to get. The H&R block guy may know something I missed but after checking this out pretty good
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