'08 FEH Federal Tax Credit Question
 

According to the link from Ford's website the '08 FEH qualifies for a $3,000 federal tax credit. While I know it will go on my 2007 federal tax return, I was wondering is there any paperwork, from Ford, that must be filed with the return?

I understand that the first 60,000 hybrid vehicles from a manufacturer qualify (tiered amounts apply at different levels). How do I know the production number of my '08 FEH after I get it - does Ford let you know this?

I would appreciate any feedback from someone that is familiar with this procedure - thanks!

Re: '08 FEH Federal Tax Credit Question
 

Ford files their paperwork directly with the IRS and then the IRS certifies a certain vehicle. The only thing you need to file is the one IRS form for the hybrid credit. As for the number of vehicles sold, don't even worry about it Ford isn't close. Besides, the credit doesn't revolve around what vehicle number you purchase. Once the mfg reaches 60,000 vehicles, the reduction in credit starts the following quarter or something like that. It is then tied to the sale date of your vehicle.

Also, you should verify that you will qualify for this credit as many buyers don't. You need to check your most recent tax returns and make sure that your total tax exceeds your AMT.

Re: '08 FEH Federal Tax Credit Question
 

Here's a link with some useful info on the FEH and vehicles sold:
http://www.fueleconomy.gov/feg/tax_hybrid.shtml

It has a link to the IRS form you'll need to file. As of Dec 06, Ford had sold 22,156 qualifying Escapes.

You should also look into state incentives for alternative fuel cars to see if you're entitled to something:
http://www.eere.energy.gov/afdc/laws/incen_laws.html

Re: '08 FEH Federal Tax Credit Question
 

And exceeds it by $3,000 if you expect the full amount. ;)

Re: '08 FEH Federal Tax Credit Question
 

I believe one needs to file the AMT form too. At least I did.

This is even if you don't, otherwise, need to worry about the AMT.