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Old 12-21-2007, 06:02 AM
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WaltPA WaltPA is offline
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Real Name: Walt
Location: Lehigh Valley, PA
Hybrids: 2007 Mercury Mariner Hybrid
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Default Re: No Hybrid Tax Credit with AMT

Quote:
Originally Posted by leoashton View Post
So, will the recent "AMT reprieve" affect these credits for the 2007 tax year?
Remember what AMT means... its the minimum income tax you are allowed to pay. No credit or deduction can drop you below that minimum. All the reprieve does, is lower the minimal tax level. The affect that has on the hybrid tax credit depends on how far above you were from the old minimum, and how far above you are now from the new minimum. If you are, say, $3,000 over the new minimum, then you will get the full credit.

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