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.

 

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.

.

 

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.

 

I agree with freefiber (welcome, BTW!). Sorry, FamilyMan.

 

Why not try? H

 

"Why not try?"

Ask Wesley Snipes

 

In a word: no.

If you bought ("placed in service") a new hybrid in 2006, then your 2006 tax return was your only option for claiming the credit.

 

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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