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Does the 2017 Prius qualify for the electric car credit?
I’m buying a new Prius, and want to save some money. Does the 2017 Toyota Prius still qualify for the electric car credit?
Chanice Boyd · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
The federal tax credit is a great way to save money when you buy a new electric vehicle. Thankfully, the 2017 Toyota Prius still qualifies for the electric car credit.
If you qualify, you can receive a tax credit of up to $7,500 when you buy a new electric car made after 2010. But act soon! Toyota has already reached the 200,000 unit cap on electric and plug-in hybrid vehicles that can receive a tax credit.
- Find out if you qualify
- Fill out Form 8936
- Report the credit from Form 8936 on the correct line on Form 1040
- Submit with your income tax return
You can also pair the federal tax credit with a rebate from your state if eligible. The key is to continue research and find out what kind of savings are available to you.
For example, you can save big on car insurance with
Jerry
. After downloading the Jerry app, you will receive competitive quotes from over 50 of the biggest insurance companies. You can choose the plan that works for you and saves you the most money. The average Jerry user saves over $800 a year on car insurance.
View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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