Qualified plug-in vehicles
Note: The information in this article applies to tax returns filed for tax years 2010 and 2011 only.
To qualify for the qualified plug-in electric drive motor vehicle tax credit your vehicle lease or purchase must satisfy a number of criteria. First, only qualified vehicles you lease or purchase after December 31, 2009 and prior to January 1, 2012 are eligible for the credit. Your plug-in electric vehicle must also be brand new, made by an eligible manufacturer under the Clean Air Act, have at least four wheels, be appropriate for driving on public streets and highways, and have a weight rating of less than 14,000 pounds. And most importantly, the vehicle must have an electric motor that uses a rechargeable battery to generate at least 4 kilowatt-hours of capacity. A listing of qualifying vehicles can be found at the IRS website: http://www.irs.gov/businesses/article/0,,id=219867,00.html.