Thanks for the info. One more question: Is there any way to know at the time of the delivery if I am one of the first 60K? Best Regards.
Is this correct? The terms of the tax credit say that "it will not reduce your tax bill below your Alternative Minimum Tax." If your AMT is $0, wouldn't that mean you get nothing from the tax credit? I just want to make sure I'm not pushing off a purchase only to find that I don't qualify for the credit. Especially if that means I can have my new car and the deduction in 2005. Ugh. Taxes give me a headache. -- Cindy
No. His AMT is zero so the credit will not reduce his taxes below that. His taxes will be reduced by ~$3150 from $4950 to ~$1800. His taxes will not have been reduced below his AMT (~$1800 > $0).
