I've been looking at all the discussions on the tax credit for the last hour or so and it has me thoroughly confused. I found this on about.com:
"If you are eligible for multiple tax credits, there are special ordering rules for which credit to take first. The hybrid tax credit is taken
last after all the following credits take been taken into full account:
- Child and dependent care tax credit
- Credit for the elderly and disabled
- Adoption tax credit
- Child tax credit,
- Mortgage credit,
- Hope and Lifetime Learning tax credits,
- Credit for retirement savings,
- Foreign tax credit,
- Nonconventional fuel credit, and
- Electric vehicle credit."
I don't qualify for any of those, other than the hybrid credit ($2100 for Civic). I'm a single student (without any scholarship credits or aid) and make about 25k a year. Do you guys think I will be fine with my situation?
Thanks for any responses. I've read encouraging things about being single and getting the full credit but like I said, I'm totally confused. Up until an hour ago, I thought it was a tax rebate.
