If you are the original (first) owner of a
qualifying hybrid vehicle
one that combines an electric motor with a gasoline-powered engine you may be eligible
to claim a one-time
tax deduction on your federal income tax return.
Under the Working Families Tax Relief Act of 2004, the
deduction amount is limited to $2,000 for cars
first put into use
in 2004 and 2005. The
deduction will be limited to $500 for vehicles placed in service in
2006, and no deduction will be allowed after that year.