Where do I get the 2006 Tax form for Hybrids? 1040 Instructions say form 8910, but the only downloadable form from irs.gov is the 2005 form.

http://www.irs.gov/formspubs/lists/0,,id=97817,00.html

Help.

 

I did some hunting and found the following link to a Prius owner's site where someone said the form will be ready on 2/16.

http://72.14.253.104/search?q=cache:...&ct=clnk&cd=10

 

2/16? A little slow arent they?

Thanks for the info!

 

Turbo tax says the same thing, guess we gotta wait.

 

No reason you can't actually prepare the rest of your taxes, though. We know the tax credit will be $2,100. Just have to wait until 2/16 to submit it.

 

Do we? Apparently you have to calculate your AMT and take a difference off of that. I don't know how it's all gonna flush out but it looks likes we make have been snookered.

http://www.hybridcars.com/news2/hybr...-everyone.html

I guess time will tell.

Jayson

 

Everything I read on the tax break said avoid AMT! Many articles discussed issues such as deferring donations until 2007, getting mutual funds and interest bearing accounts that would lower risk of hitting AMT, etc. This is not a sudden surprise. Tax planning was always encouraged, both in articles and threads on Green Hybrid. Good luck all!

 

Nope I understand. I'm just saying you still have to calculate your AMT tax liability as well as your normal liability and then you can only take the difference as a credit. So if you would have owed 5,000 using the normal tax tables and 4,500 using the amt tax tables, you'd get a 500 credit for any hybrid car whether a prius or an accord (yes i said accord).

I'll have to look at my tax info for last year. I read in the article that I'm near one of the sweet spots. I'll just have to see how much my credit is going to be, if anything. I think many people felt like it would be like the deduction. I'd almost rather have the deduction now cuz I feel I'd probably do better then I'll do when calculating this AMT stuff.

Jayson

 

I don't have the slightest understanding of what you're talking about or how to figure out what amount my credit will be. Hopefully, TurboTax does.

 

FYI - The form is now up.