Tax Software for Hybrid Vehicle Tax Credit

<div class='quotetop'>QUOTE(Deevan @ Jan 3 2007, 04:26 PM) [snapback]370281[/snapback]</div>

Previously discussed here. http://priuschat.com/index.php?s=&show...st&p=363939

*EDIT: the discussion above basically concluded that the IRS wasn't releasing the updated form until Feb 1, 2007.

 

<div class='quotetop'>QUOTE(Deevan @ Jan 3 2007, 04:25 PM) [snapback]370325[/snapback]</div>

This is where the confusion starts. The text IN the form is for a 2006 return. The big date in the upper right corner (2005) indicates it is a 2005 form, not a 2006 form. Will it make a difference? I don't know. When it wants to the IRS can be a real PITA. One of these days I will remember to call the IRS and get an "official" answer.

My guess is that someone designed the form on the 2005 template and no one else noticed.

 

<div class='quotetop'>QUOTE(JimN @ Jan 3 2007, 07:52 PM) [snapback]370535[/snapback]</div>

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I PREDICT that probably sometime in February, that the IRS will have the updated 8910 avaliable on it's website.

 

<div class='quotetop'>QUOTE(fphinney @ Jan 4 2007, 12:23 AM) [snapback]370584[/snapback]</div>

This evening I called the IRS (1-800-829-1040) and spoke with Mrs. Lovelace (got to love that name) #4316241. She said the 2006 version of form 8910 should be posted to the website (www.irs.gov) January 15. You CAN NOT use the 2005 version currently on the website with a 2006 return.

To claim the credit you also need to file Form 6251 for alternative minimum tax.

Perhaps when all the forms are available a sticky thread with the links could be posted.

Did you really believe you were going to get the tax credit without some work?

 

HI just quick question if I just paid off my 04 prius can I use any of the tax credits ? I was leasing it but paid it off and bought the car.So I am not sure if I can apply for a credit?

 

<div class='quotetop'>QUOTE(m6scott @ Jan 9 2007, 03:29 PM) [snapback]373236[/snapback]</div>

No. For tax year 2006 a new vehicle needs to be placed in service in 2006.

 

<div class='quotetop'>QUOTE(JimN @ Jan 9 2007, 07:53 PM) [snapback]373369[/snapback]</div>

OK so you have to have a brand new Prius to use any tax credit. Maybe in the near future this will change to include used hybrids.?

 

I spoke with a TurboTax representative two days ago about this and he said (in very broken English) that it will be available through TurboTax on the 12th of January, 2007. I also have an email from them stating the same thing.