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Toyota Camry Hybrid The best-selling car in America.

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  #1 (permalink)  
Old 01-27-2007, 12:24 PM
GunnyE7T GunnyE7T is offline
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Real Name: Stan
Location: Southern Indiana
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Default Tax Credit Not Available Till Feb 3rd

Just came from H&R and due to IRS regulations the Hybrid tax credit cannot be claimed till Feb 3rd.

When the preparer went to look for the form the entry for the form was greyed out.

Something about "Tier 2" is when the IRS will make Form 8910 available.

For what it's worth.

.

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Old 01-27-2007, 02:07 PM
schmidtj schmidtj is offline
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Real Name: Dr. Gregory House
Location: Princeton, New Jersey
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Default Re: Tax Credit Not Available Till Feb 3rd

Quote:
Originally Posted by GunnyE7T View Post
Just came from H&R and due to IRS regulations the Hybrid tax credit cannot be claimed till Feb 3rd.

When the preparer went to look for the form the entry for the form was greyed out.

Something about "Tier 2" is when the IRS will make Form 8910 available.

For what it's worth.
Turbotax let me file electronically with the alternative fuel tax credit. But Turbotax doesn't use paper forms when you file. It did flag the form as "not final" but still let it go through. Maybe there is an advantage when you "Talk to the box" ? Or maybe an ammended return is in my future?

Last edited by schmidtj : 01-27-2007 at 04:40 PM.
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Old 01-27-2007, 04:49 PM
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jay_man2 jay_man2 is offline
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Default Re: Tax Credit Not Available Till Feb 3rd

Quote:
Originally Posted by schmidtj View Post
Turbotax let me file electronically with the alternative fuel tax credit. But Turbotax doesn't use paper forms when you file. It did flag the form as "not final" but still let it go through. Maybe there is an advantage when you "Talk to the box" ? Or maybe an ammended return is in my future?
TurboTax told me the Hybrid form wasn't available. I think you'll be filing an amended return. How exactly did you file for an alternative fuel credit?

.

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Last edited by jay_man2 : 01-27-2007 at 05:43 PM.
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Old 01-27-2007, 04:55 PM
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spiff72 spiff72 is offline
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Default Re: Tax Credit Not Available Till Feb 3rd

I have been using TaxCut online, and I have not been able to find the part that covers the hybrid tax credit. The section talks about the alternative fuel vehicle credit being covered in that section, but it doesn't appear. I assumed that I would have to wait until the forms were finalized.

.

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Old 01-27-2007, 05:10 PM
schmidtj schmidtj is offline
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Real Name: Dr. Gregory House
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Default Re: Tax Credit Not Available Till Feb 3rd

Early in the interview it asked if I purchased a Hybrid or Electric vehicle. Later it asks for year/model date of purchase and date put in service. $2600 (for me) ends up on line 55 of the 1040. I am using TurboTax 2006 Deluxe for Federal and State.
Hmmmmm.
I opted to let it do it's own updates without prompting FWIW.

Update: I did a little googling and it seems TurboTax will let you e-File but warns you you have a Non-Final form if you paper file. Hmmm? I guess the $14.95 gets you a better chance of being audited? At any rate my e-File shows "Accepted" for both Federal and State with the Alternate Fuel Credit included. Go figure.

ymmv

Last edited by schmidtj : 01-28-2007 at 04:19 AM.
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Old 01-28-2007, 08:11 AM
turk turk is offline
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Default Re: Tax Credit Not Available Till Feb 3rd

Per TurboTax's forms availability schedule, the necessary form for the Alternative Motor Vehicle Credit (form 8910) won't be available through TurboTax until 2/16.

The way tax forms in software works is:

1) First the taxing authority drafts and approves the contents of the form.
2) The software vendor generates its implementation of the form and submits it to the taxing authority for approval.
3) The taxing authority approves the form and the software vendor releases it to their customers.

There can be forms released in "provisional" status, though I'm not sure how this impacts the validity of the return (that is, whether an ammended return with an approved form will need to be files subsequently).
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Old 01-28-2007, 08:20 AM
schmidtj schmidtj is offline
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Real Name: Dr. Gregory House
Location: Princeton, New Jersey
Hybrids: 2007 Toyota Camry HV
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Default Re: Tax Credit Not Available Till Feb 3rd

This is interesting. I think I have uncovered a "bug/feature" in TTDx.
The TT web site says 8910 isn't even available for eFile but it seems
(for me) it was. I guess I'm just "special" like Mr. Rogers use to tell me.

Last edited by schmidtj : 01-28-2007 at 08:22 AM.
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Old 01-28-2007, 07:05 PM
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FL07THC FL07THC is offline
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Default Re: Tax Credit Not Available Till Feb 3rd

I guess if you mail it in everything will be fine. We were planning on getting our accountant at work to do it electronicly, I am not sure what software she uses.

.

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Old 01-29-2007, 06:35 AM
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WaltPA WaltPA is offline
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Default Re: Tax Credit Not Available Till Feb 3rd

Quote:
Originally Posted by turk View Post
Per TurboTax's forms availability schedule, the necessary form for the Alternative Motor Vehicle Credit (form 8910) won't be available through TurboTax until 2/16.
Yea, I just tripped over that TurboTax will not have the 8910 available, in its final form suitable for filing, until 2/16.

.




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Old 01-30-2007, 09:20 AM
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Mainer Mainer is offline
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Default Re: Tax Credit Not Available Till Feb 3rd

Thanks for the info - another reason I love this site!

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2007 Camry Hybrid - Titanium Metallic - sunroof, heated mirrors, mud flaps and body side molding.

2004 Honda Pilot EX- Midnight Blue (another great car!) http://www.hondapilot.org/
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