tax return filed; will get max credit!

<div class='quotetop'>QUOTE(colt @ Feb 1 2007, 12:47 AM) [snapback]383699[/snapback]</div>

Thanks Colt!! Definitely will check this out.....much cheaper than TurboTax.

 

I just updated my turbotax info, and it told me I get ONLY $239 credit... I only have 6 exemptions and standard deduction, and I get 1 child credit, so I really thought I'd qualify for the full credit or at least something close... Duh.

Do you think it's worth to try olt.com too, hoping they'd do different calculations?

 

well heck... am i that unusual?? i do mine the old fashioned way. mail it in. cost me 39 cents...

 

<div class='quotetop'>QUOTE(colt @ Jan 31 2007, 10:47 PM) [snapback]383699[/snapback]</div>

Colt, I went ahead and tried olt.com, but I don't see any place to submit the hybrid tax credit? Anyone else? They have a list of credits, none of which include the one I need. I appreciate any help anyone can provide.

 

Just to chime in, with Turbotax we also got the full $1575 credit for our 2007 Barcelona Red. We're getting a big refund thanks to Turbotax. Super easy, we paid $17 for it with coupon at Costco.

Dave

 

<div class='quotetop'>QUOTE(DaveLeePrius @ Feb 4 2007, 01:32 PM) [snapback]385163[/snapback]</div>

Really?

Are you sure about that? because TurboTax says that it can't complete this part of the return because the form won't be available until Feb 16th. I'm using TurboTax Premier Investements 2006, though i wouldn't expect the version to make any difference for this type of thing.

Screenshot taken today attached.

 

Folks are getting me worried. I just completed my Federal Income Tax and my AMT came out to Zero (just barely!) and I am getting the full $3150 credit. I checked and double checked and triple checked and I am sure I did it right.

Anyway, I do have one question. Somehow I thought there was a need to submit supporting information - copy of sales receipt, etc. I don't see any request for such info in the instructions. Am I right on that - no supporting info to send it with the return?

Thanks.

P.S. When I checked for the form last week, I saw the 2005 form and a note that the 2006 form would be available on Feb 1. Today the 2006 form was there (on IRS website)

 

As I mentioned on my other thread, the 2006 8910 was available since Jan. 30, and my TurboTax online showed mine as ready.

However, I just finished doing mine on the OLT site and the form was there also, and I will be getting the full 1,575 for my 07 Touring.

@ewhanley: The section to complete the Alternative Vehicle Credit is under the Credit section, and to the right look for "Other Credits". There in the long list you will find the 8910 near the bottom.

I found that with OLT I gotten $200 more in my refund than TurboTax did....now thats awesome!

I just finished e-filing mine (both fed and state for $15) so we'll see what the results are. I printed out both my 1040, 8910 and another form I filed to claim my college tuition from last year as well and double-checked over everything. All checks out.

 

<div class='quotetop'>QUOTE(paflyfisher @ Feb 5 2007, 08:54 PM) [snapback]385824[/snapback]</div>

I also was wondering about any supporting info for the tax credit. All I was asked for on the 8910 was date placed in service, Make, model, year, and used for business or personal use. Nowhere else in my tax return did the question of documentation come up. Anybody have an answer on this issue?

 

<div class='quotetop'>QUOTE(Walker1 @ Feb 6 2007, 09:00 AM) [snapback]385993[/snapback]</div>

I don't see anything in the 8910 instructions asking for any documentation at all. I did my taxes last night with "TaxCut", and there was no mention of documentation there either.

You'd think they'd want your VIN for verification...maybe the IRS verifies with the DMV based on the date placed into service?

 

<div class='quotetop'>QUOTE(paflyfisher @ Feb 5 2007, 05:54 PM) [snapback]385824[/snapback]</div>

Your "Tentative Minimum Tax" (Form 6251 Line 33) has to be $3150 lower compared to your "Regular Tax" for you to get the full credit. If your AMT came out "just barely to zero" after filling out From 6251, I'm afraid that you probably are in the same boat as us -- "just barely" anything for your Alternative Motor Vehicle Credit.

 

<div class='quotetop'>QUOTE(Warwind @ Feb 6 2007, 09:14 AM) [snapback]385997[/snapback]</div>

That'd require some impressive integration of IRS and DMV systems which just seems unlikely IMHO, though I would *really* like to know if they do check the date in some way

 

umm . like all IRS claims, you only need to provide verification of information on a tax audit. having also done the tax deduction offered previously on my 2004, i can say there is no other proof needed other than to say "i qualify" but be prepared to back your statement with proof

 

I'm using TaxCut to do my taxes. From what I can tell I'm getting the full credit. I'll have to go back into the forms and look. I'm single with no kids so the AMT takes a bit for me to reach. My only real deductions are for mortgage interest and real estate taxes.

 

I just gotten the email notifications from olt.com....both my federal and state returns have been accepted so all is good!

 

i am soooooooo confused. I used olt.com. I answered all the questions for the Alternative Minimum tax, but I never saw a TMT. I filled out form 8910, and when it was finished, I had a total tax credit of 0. I file as a disabled single with taxable income under $20,000. I just don't understand!

I submitted a question, but I have to wait 1 business day for a reply.

Peace --

 

Well I just returned from H&R Block and I only get $599 credit for my new 2006 Silver Pine Mica Prius and $o from the state I was hoping for $3150 for govt. and $500 from state. I file jointly with wife and we only had mortgage interest and property taxes of about $18,000.00. I haven,t heard of anyone getting a full rebate. Oh well it only money!! I love my prius. gypc