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Claiming Alternative Motor Vehicle Credit

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idn1221

Member
I have a question on claiming "Alternative Motor Vehicle Credit". My help me buy a hybrid car, but I am the one making all the payment and using the car within the tax year. Can I file claim on Alternative Motor Credit? and how many times can I claim it? Please advice. thank you

D.N.
 


Zigner

Senior Member, Non-Attorney
What US state?
Who helped you buy the car...and what do you mean by helped?
 

idn1221

Member
All the paper work under her name, the title of the car under her name. But I the one making all the payment and pay for car insurance. I the one using the car for work and personal use on tax year.
 

Zigner

Senior Member, Non-Attorney
All the paper work under her name, the title of the car under her name. But I the one making all the payment and pay for car insurance. I the one using the car for work and personal use on tax year.
You are not the owner of the car, so you cannot take advantage of the Federal tax credit.
 

idn1221

Member
If my mom transfer the car tile under my name as a gift, we both using the same address. Then can i file claim for Alternative Motor Credit?
 

Zigner

Senior Member, Non-Attorney
If my mom transfer the car tile under my name as a gift, we both using the same address. Then can i file claim for Alternative Motor Credit?
Nope - because you're not purchasing a new vehicle. Additionally, the lienholder won't allow such a thing without the car being paid off.

ETA: Why not let mom get the credit that she's entitled to? Then, if she wants to gift the proceeds to you, she's free to do so...
 

idn1221

Member
Another question, if i still can not take advantage of the Alternative Motor Credit after title transfer and I the new owner. Then my mom can claim the credit. How many times can my mom claim the credit. One only or every year? thanks
 

Zigner

Senior Member, Non-Attorney
You stated that you are making payments. If it's already paid off, then what payments are you making?
The tax credit is a one-time credit.
Type the following phrase in to your favorite web search engine (Google, Bing, whatever): How does the alternative fuel vehicle tax credit work?
 

idn1221

Member
Sorry, I am the one making all the monthly payment. But just now finish paying it off. Hope that clear everything. anyways. thanks for you time and feedback.
 

FlyingRon

Senior Member
In addition to only apply to new purchases. The AVMC doesn't apply to Hybrid vehicles anymore, and hasn't for years. While the credit still exists, it really is limited to fuel cell vehicles of which you're unlikely to find any in Texas. They're really only sold in California. Models are things like the Hyundai Nexo, Honda Clarity Fuel Cell (neither of which is quite yet on the market but should be coming out this spring) and the Toyota Mirai.
 

idn1221

Member
We bought the car few years back and making payment on it. Just recently finish pay it off. but never have the chance to claim the hybrid car for AVMC. Thanks for more infomation on AVMC. its good to know now. learn something new today. thanks i appreciate the feedback.
 

Zigner

Senior Member, Non-Attorney
We bought the car few years back and making payment on it. Just recently finish pay it off. but never have the chance to claim the hybrid car for AVMC. Thanks for more infomation on AVMC. its good to know now. learn something new today. thanks i appreciate the feedback.
It can only be claimed in the tax year that the claimant takes delivery of the vehicle.
 
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