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Old 01-11-2008, 01:25 AM
AJR AJR is offline
Active Enthusiast
 
Real Name: Angelo
Location: Sacramento, CA
Hybrids: 2007 HCHII
Posts: 133
Default FYI: TurboTax 2007 and the Hybrid Tax Credit

Just an FYI to those that will qualify to get their Hybrid tax credit for purchasing your HCHII last year and are using TurboTax 2007...

I got my W-2's today. I just purchased TurboTax 2007 and wanted to get a jump on my taxes and check a few things out even though I don't have my mortgage interest statement yet (but I know an approximate for it). Anyway, I'm glad to say that I don't qualify for the AMT (don't think I ever have) so I get the Hybrid Tax Credit of $2,100 for purchasing the HCHII in April last year (Yay!)! However, if I wanted to file my taxes today I wouldn't be able to because TurboTax does not have the final Hybrid Tax Credit form (can't remember the number... it's like Form 8910) and I will have to wait for them to update the software with the final version of the form (using the "One-click updates") before I can file my taxes.

On a side note, now that I'm getting the HTC, I can officially say I only paid $19,200 OTD! I plan on putting that $2,100 I'm getting back directly to my auto loan (which should cut about 6 months of payments off it)

Also, discuss if you will... but please don't ask me specifically about the HTC cutoff dates for the HTC dropping from $2,100 to $1,050 since 60K HCH's have been sold.
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