Hybrid tax credit bait and switch

Thread Tools

Search this Thread

Apr 2, 2007 | 12:15 PM

#71

nomorebenz

Active Enthusiast

Joined: May 2006

Posts: 179

Re: Hybrid tax credit bait and switch

Quote:

Originally Posted by warehouse

ATTENTION!!! I am no tax expert but at first it looked as if I was only getting about $500 of the $1300 credit because of the dreaded "minimum tentative tax" . Then I found out that there was a bug in Turbo tax where it was not importing my AMT capital gains carry over correctly and thus messed up my line "16" of the AMT worksheet. Once this was corrected I got my full credit. The rest of you might want to check this. Here's a link explaining the problem:

http://forums.turbotax.com/rss/messa...message.id=945

Just a warning to be careful on how one interprets this error. Most self preparers won't have differences between their AMT loss carryover and their Regular tax loss carryover. If they are the same, line 16 will not be affected by a loss carryover.

Apr 8, 2007 | 08:15 PM

#72

cgreentx

Enthusiast

Joined: Apr 2007

Posts: 2

Re: Hybrid tax credit bait and switch

I have been unable to locate the scheule of reductions to the tax credit. I bought my TCH on 4/6/2007 and am curious what the baseline credit I may or may not be getting is.

Thanks!
Chris Green

Apr 9, 2007 | 07:07 AM

#73

HybridAri

Enthusiast

Joined: Mar 2007

Posts: 24

Re: Hybrid tax credit bait and switch

Quote:

Originally Posted by cgreentx

I have been unable to locate the scheule of reductions to the tax credit. I bought my TCH on 4/6/2007 and am curious what the baseline credit I may or may not be getting is.

Thanks!
Chris Green

$600