New Question About the Fed Credit -- I PROMISE!

[topaz420]

I read all 20 threads about the Federal Credit, but never saw this one asked:

Can you claim the credit every year?

EX: I bought a GX in 2008 and plan to claim it. If I sell it in early 2009 and buy a Jetta TDI (with it's own credit) can I take that one for 2009 tax year?

Thanks to anyone who can chime in on this!

[Curtis]

Re: New Question About the Fed Credit -- I PROMISE!

As far as I know there is no limit to the number of credits you can qualify for. If there are any tax professionals in the group, feel free to chime in. If you'd bought 2 GX's in the same year, you'd claim them both, right? I don't believe that there is a cap on tax credits, as long as you legitimately qualify for them.

However, selling a cng vehicle to buy a deisel is illegal in 3 Utah counties. It could also lead to premature baldness and impotency... you may want to reconsider before it's too late.