Thread: No Hybrid Tax Credit with AMT
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Old 04-12-2007, 04:01 PM
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WaltPA WaltPA is offline
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Real Name: Walt
Location: Lehigh Valley, PA
Hybrids: 2007 Mercury Mariner Hybrid
Posts: 1,191
Default Re: No Hybrid Tax Credit with AMT
You don't have to pay the AMT. Well, probably.

You only need to calculate what your AMT might have been, in order to establish what would be the MINMUM total income tax you can pay. You can figure out your tax normally (1040 line 44), and start to subtract off all the credits you are allowed, including your Hybrid credit (1040 line 56). However, you have to STOP subtracting off credits if the remaining tax you owe (1040 line 57), drops below that MINUMIM income tax you figured using the AMT form (6251 line 33).

So, there are way too many personal factors for anyone to guess, ahead of time, if you will be able to get the full Hybrid credit or not.

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Last edited by WaltPA : 04-12-2007 at 04:09 PM.
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