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Originally Posted by areyouin729 I've been reading up on that but I didnt plan to buy before 12/31 how exactly does it work, what should I get back in my
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11-15-2009, 11:25 PM
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#25 (permalink) | |
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Track Member
Join Date: Jan 2009
Location: San Antonio, TX
Posts: 765
Drives: 09 370Z T/S/N
Rep Power: 188   |
Quote:
The credit applies to new cars purchased between February 17, 2009 and December 31, 2009 with income of $125,000 for individuals and $250,000 for couples. When you file your 2009 taxes you will get the credit. Depending on your states tax rate it could be a good chunk. But, I do not think it is dollar for dollar credit but a reduction on your taxable income so without knowing all your filing info it would be literally impossible to figure your credit. But, every little bit helps.
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