Qualifying
alternative fuel vehicles (AFVs) purchased or placed into
service between January 1, 2005 and December 31, 2010 may
be eligible for a federal income tax credit of up to $4,000.
Vehicles placed into service before January 1, 2005 may be
eligible for a $2,000 clean-fuel
vehicle tax deduction.
AFVs Certified for the New Energy Tax Credit
Vehicle
Make & Model |
Fuel |
Credit
Amount
|
Honda
|
2005-09
Honda Civic GX |
CNG |
$4,000 |
Sources:
American Honda Motor Company, Inc. - Qualified Alternative Fuel Motor Vehicles (IRS, Dec. 8, 2008)
Honda Compressed Natural Gas Vehicle is Certified for the Qualified Alternative Fuel Motor Vehicle Tax Credit (IRS, Oct. 31, 2007)
Honda
Vehicles Certified to Operate on Compressed Natural Gas (IRS, July 11, 2006)
Honda
Compressed Natural Gas Vehicle Certified for Tax Credit (IRS, Nov. 22, 2006)
|
|
To be eligible for this tax credit, the vehicle
must only be capable of operating on any of the following
alternative fuels:
- Compressed natural gas (CNG)
- Liquefied natural gas (LNG)
- Liquefied petroleum gas (LPG)
- Hydrogen
- Any liquid at least 85% methanol by volume
|
Additional vehicle requirements:
-
It's original use commences with the taxpayer.
-
It is acquired for use or lease by the taxpayer, and
not for resale. (The credit is only available to the original
purchaser of a new, qualifying vehicle. If a qualifying
vehicle is leased to a consumer, the leasing company may
claim the credit.)
-
It is used mostly in the United States.
Note: Prior to 2009, the Alternative Motor Vehicle Credit could not be used to offset the alternative minimum tax (AMT). However, beginning in 2009, the credit can be applied against the AMT. |
Fill out Form
8910, Alternative Motor Vehicle Credit.
For AFVs acquired for personal use, report the credit from
Form
8910 on the appropriate line of your Form
1040, U.S. Individual Income Tax Return. |
Some state and local governments also provide incentives
for AFVs. Check with your state or local government or view
the U.S. Department of Energy's list of State
& Federal Incentives & Laws.
AFVs are not eligibe for electric vehicle tax credits. |