Thread: Hybrid tax credit bait and switch
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Old 04-02-2007, 12:15 PM
nomorebenz nomorebenz is offline
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Real Name: Fred
Hybrids: 2006 Toyota Highlander 4WD
Posts: 177
Default Re: Hybrid tax credit bait and switch
Quote:
Originally Posted by warehouse View Post
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.
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