No. Not taxable unless you used it for business and wrote off the purchase price.Speaking of the gov't, I wonder if we'll get a tax bill for any of this...
Mark
No. Not taxable unless you used it for business and wrote off the purchase price.Speaking of the gov't, I wonder if we'll get a tax bill for any of this...
Why would you get a tax bill? It's not income. There's no "gain" or interest. You're just being made whole. Only if there were " punitive" damages would there be tax consequences.
Thanks for the notes. I recall the Goodwill Packages being non-taxable because they were considered "rebates." I wasn't sure how this would play out in the tax world.No. Not taxable unless you used it for business and wrote off the purchase price.
Yeah it really makes no sense. 2011 was the year they decontented the cars (at least the Jetta) and went with cheaper suspension, etc.If you remember the 2011 MSRP dropped something like $2500 from the '10 model. Making that discrepancy look even more mystifying.
has to be operational, I am sure you'll find people to swap any components you need to make it runningP.S. I wonder if the car has to be running for a full buyback. I am tempted to remove my 2micron fuel mods before giving up the car, but I might have to tow it to the dealer if I do this.
Year/Model: 2013 Passat TDI SEL
Options:none
Mileage: 70,300 as of now
Region: California
Buyback restitution from attachment 1A
Base buyback: $26,927
Total unadjusted buyback: $26,927
Mileage adjustment from attachment 2A
Projected mileage at buyback: 77,000 in oct. 2016
Months since Sept 2015 (assume buyback in October 2016): 13
Months X 1,042: 13,546
Adjusted mileage (77,000-13,546): 63,454
Buyback mileage adjustment: -$2,100
Total buyback amount $24,827
Here is where it gets even better, I read somewhere that we have until oct, 2018 to make a decision so waiting until oct, 2018 and driving an extra up to 47k miles costs me a whopping $2,520 extra still netting me $22,307 for a 5 1/2 year old car with up to 124,176 miles on
it!
This one is even better, My brother-in-law bought a used 2012 passat tdi sel is august of 2014 for 15k, it had 94k miles on it but he only drives about 6 or 7k a year so now it has approx. 105k miles on it, assuming no more than 108k this oct. he would get $20,057
but if he waits until oct. 2018 then because he drives less than the allowed amount he would get an extra $370! or $20,427 assuming his total mileage is less than 119,175 at that time.
So he will pay for fuel, oil changes, the new tires he put on and cover his insurance to drive the car for 50 months, WOW! what a deal!
That's more along the lines of what the vwvortex article says. I don't know. I guess I'll just wait to see what the website says when they finally get it all up and running and providing actual information.Everyone here should really read the actual information provided in the settlement. You are entitled to the adjusted NADA Value plus an additional payment for restitution.
https://www.vwcourtsettlement.com/en/docs/Executive Summary of Proposed Settlement Program.pdf
Neato! On my planet, we only have 12 months in a year.I read somewhere that we have until oct, 2018 to make a decision
So he will pay for fuel, oil changes, the new tires he put on and cover his insurance to drive the car for 50 months, WOW! what a deal!
Everyone here should really read the actual information provided in the settlement. You are entitled to the adjusted NADA Value plus an additional payment for restitution.
https://www.vwcourtsettlement.com/en/docs/Executive Summary of Proposed Settlement Program.pdf
THANK YOU..... It was a long day.Da_jokker no one pointed it out but 1042 x 13 is 13546 not 13564. thank you though for info.
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