Any tax credit for 2012 Gemcar

GEM Forum
1

Hello,

I doing my tax.I was wondering whether there is any federal tax credit for a 2012 Gemcar ES which I purchased in 2012? I think the answer is NO. But, I want to make sure I didn’t miss anything.

Thank!

2

Unfortunately at the start of 2012, Congress let die a federal credit of up to $2,500 for four-wheel, low-speed neighborhood electric vehicles (NEVs), which are limited to a top speed of 25 mph. But shoppers interested in those vehicles might want to check individual state and regional programs. Some, like California’s Clean Vehicle Rebate Project, still are open to qualifying electric motorcycles and NEVs.

Conversion fans also are out of luck. A 10 percent credit (up to a maximum of $4,000) for the cost of converting conventional gas vehicles, diesel vehicles or conventional hybrids to plug-in hybrid or all-electric powertrains expired at the start of 2012.

3

I wanted to add a couple of relavant links that may help you to determine if you have any credits coming to you regarding the purchase of a PEV (plug in vehicle).

Plug-In Electric Drive Vehicle Credit (IRC 30D)

Alternative Fuels Data Center: All Laws and Incentives Sorted by User

4

Hi LuvMyTJ

Many thanks for the update on the tax credit situation - do you think the US government will reinstate this in the future or is there nothing left in the budget to cover this at the moment?

5

Hi LuvMyTJ,

Thank you for the information!

Susan