New Truck Buyers Can Still Qualify For Federal Tax Credit

Halloween Week Truck Rebates Aren't Phantom Deals

You still have until the end of the month to qualify for a federal tax credit if you buy a new truck, according to the New York Times.

"If you are planning on buying a new car, truck or motorcycle, you may qualify for a federal tax break if you purchase it before Dec. 31. The break allows eligible taxpayers to deduct state and local sales and excise taxes paid on up to $49,500 of the purchase price. But the amount of the tax break, which can be used whether you itemize deductions on your tax return or not, begins to phase out for individual taxpayers whose modified adjusted gross income is $125,000 to $135,000 and $250,000 to $260,000 for joint filers."

[Source: The New York Times]

Comments

I think you have a type-o in the title Mike? (Quality or Qualify)

@Greg: Oops! Thanks. Just got my coffee. Its fixed.

Does anyone know if you have to take delivery by then or is an order good enough?

The truck has to be delivered and payed for to take advantage of the tax credit. So basically whatever is on the lot now for the next week qualifies.

It's paid for. Not payed for.



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