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Old 03-22-2007, 07:35 AM
ag4ever ag4ever is offline
Dazed and Confused
 
Hybrids: Toyota Camry Hybrid
Posts: 724
Default Tax credit bait and switch

Well, I finally did my taxes a couple nights ago.

I was able to take the full $1,300 credit I recieved by buying my TCH in October. As a matter of fact, I could have taken the full $2,600 credit if I had gotten the car in August. My tax liability was about $4,000 more than my AMT, so there was no way I was going to hit it. Buying 3 TCHs would still not put me over the AMT threshold!

I kinda wish I had gotten the car in August because I actually owe about $1,250 more in taxes for last year. I HATE TAXES!!!!

Sorry for those who cannot take the full tax credit, but I have always felt this was never a bait and switch, but more of a AMT fiasco.

Lets get rid of the AMT! -or- At least restructure it.

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