Can I claim tax cred if I didn't qualify last year?
#1
Can I claim tax cred if I didn't qualify last year?
I got an HCH2 in early 06 (love it!) and didn't qualify for the tax credit when I filed last year. If I qualify this year, can I claim it a year late?
I read through as many forms I could find on irs.gov, but the wording isn't clear that you must claim the credit for the tax year in which you bought the vehicle.
Many tax breaks are given a "carryover" and I'm wondering if this is also?
Thanks for any references to clarify.
I read through as many forms I could find on irs.gov, but the wording isn't clear that you must claim the credit for the tax year in which you bought the vehicle.
Many tax breaks are given a "carryover" and I'm wondering if this is also?
Thanks for any references to clarify.
#2
Re: Can I claim tax cred if I didn't qualify last year?
You can read the entire Internal Revenue Code, and you'll find that the wording isn't clear. It's written by attorneys as a way of guaranteeing themselves future business.
Any time a law isn't clear, the average guy has to pay a lawyer to tell him what it means.
Good luck getting a straight answer on this one.
.
Any time a law isn't clear, the average guy has to pay a lawyer to tell him what it means.
Good luck getting a straight answer on this one.
.
#3
Re: Can I claim tax cred if I didn't qualify last year?
According to the IRS instructions to form 8910:
In addition to certification, the following requirements
must be met to qualify for the credit:
...
You placed the vehicle in service during your tax year;
...
I take this to mean that you're out of luck. Sorry.
In addition to certification, the following requirements
must be met to qualify for the credit:
...
You placed the vehicle in service during your tax year;
...
I take this to mean that you're out of luck. Sorry.
#8
Re: Can I claim tax cred if I didn't qualify last year?
Hello guys. Is there anyone here in the thread or perhaps in other threads knows a specific URL for Internal Revenue Code. I am having trouble with my claims. Thanks!
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