“(HEVs) save so much gas you stop looking at the gas gauge,”
said Luna, who owns an HEV himself. “The smaller gas tank means
less dollars and cents.” He puts $18 of gas in his tank, and
it takes him as far as 500 miles. The gas mileage for this vehicle
is 50 miles per gallon or more.
The 2003 Honda Civic hybrid electric vehicle, which is built
on the frame of the current sedan, will reduce hydrocarbon emissions
by about 80 percent compared to the conventional car, giving
it the nickname, “green car,” Luna said.
According to information provided at ott.doe.gov/hev, the Web
site for the Department of Energy, the 2003 Civic HEV is expected
to be certified nationwide as an “Ultra-Low Emission Vehicle”
without sacrificing normal driving conditions for the benefit
of the environment. This HEV combines a small internal combustion
engine with an electric motor, and it works with the usual automatic
or manual transmission for good drivability. Most car shoppers
know about the hybrids, but they choose not to buy them because
they have “less umph,”
Luna said. Luna explained that, though HEVs cost about $2,000
more than a comparable vehicle, owners of HEVs break even the
first few years and begin to save money by spending less on
gas. “It does make a lot of difference.”
How HEV tax deductions work:
· HEVs qualify for the federal Clean Fuel Vehicle Tax Deduction.
· List the HEV as an adjustment to income on line 32 of the
IRS 1040 tax form.
· Indicate “clean fuel” on the dotted line to the left of the
· For a past year of HEV ownership that was not filed, an amended
tax return can be filed.
· Maximum deduction is $2,000.
· Deduction amount decreases by $500 each year until it is phased
· Vehicle must not be purchased for resale.
· Vehicles original use must begin with the owner wishing to
qualify for tax deduction.
· For more detail on qualifying for the federal Clean Fuel Tax
Deduction read the IRS Publication 535 which can be found atwww.energystate.or.us/trans/535.pdf