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Government & Taxes Money, credits and more! 

View Poll Results: How much of the Federal Tax Credit will you receive?
All of it! 73 48.34%
> 80% 7 4.64%
60-80% 7 4.64%
40-60% 12 7.95%
20-40% 12 7.95%
<20% 5 3.31%
Nothing! Nada! Zilch! 35 23.18%
Voters: 151. You may not vote on this poll

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  #21 (permalink)  
Old 02-20-2007, 05:49 AM
oscars2212 oscars2212 is offline
Active Enthusiast
 
Real Name: scott
Hybrids: ford escape hybrid 2006
Posts: 59
Default Re: Tax Credit Eligibility

revising my earlier reply. I qualify for $0 of the $1950 FEH tax credit.

Darn AMT hit me for the first time this year (of all years), sigh...

.

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  #22 (permalink)  
Old 02-20-2007, 08:02 AM
HybridVue HybridVue is offline
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Real Name: Michael
Hybrids: Saturn Vue 2007
Posts: 78
Arrow Re: Tax Credit Eligibility

I qualify for the full tax credit. However, with the Saturn Hybrid Vue it is only $650.
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  #23 (permalink)  
Old 02-21-2007, 09:21 AM
Sledge's Avatar
Sledge Sledge is offline
YA RLY.
 
Real Name: Bubo scandiacus
Location: Saginaw, MI
Hybrids: 2006 Honda Civic Hybrid
Posts: 610
Default Re: Tax Credit Eligibility

Did my taxes last night. Dropped my taxes by $2209. w00t!

.



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  #24 (permalink)  
Old 02-21-2007, 06:27 PM
Revrunt's Avatar
Revrunt Revrunt is offline
Hybrid Nutbar
 
Real Name: Joseph DeWitte
Location: Henderson, NC
Hybrids: '06 HCH-II Mag Pearl
Posts: 27
Default Re: Tax Credit Eligibility

I get none here, only because my Lifetime Learning Education Credits took care of all of the income tax. So, I suppose I'm not allowed to complain.
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  #25 (permalink)  
Old 02-22-2007, 10:54 AM
FEH_Fan FEH_Fan is offline
Enthusiast
 
Real Name: Carl Leweke
Hybrids: Ford Escape
Posts: 1
Default Re: Tax Credit Eligibility

Standard deductions for the wife and 2 kids shot down $2k of the expected $2.6k refund. Very surprised and disappointed that the hybrid credit only applies if you don't have any other credits. My dealer didn't promise anything when I bought, but I had read the IRS press releases and certainly believed they were trying to give an incentive to reduced fuel consumption. I've been bait-and-switched, but considering the perpetrators, it should have been expected!!

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  #26 (permalink)  
Old 02-22-2007, 04:32 PM
BrisPrius BrisPrius is offline
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Real Name: Tom Byrne
Hybrids: 2006 Toyota Prius
Posts: 5
Default Re: Tax Credit Eligibility

we only recieved about 2553 of the 3150 credit from the Infernal Revenue Stealers.
Apparently even though we couldn't take child credit, because income is barely over the limit, Had lower than usual deuctions. we still got hit on the AMT worksheet.
Apparently if you have too many credits and deductions (we don't fudge ours) you can only write off the hybrid credit up to the amount that takes you right to the amt limit. If we had written of the 3150 then they would have hit us up for an additional 597 in tax on the amt.
We are far from being wealthy,Once again congress snares more non rich in the amt.
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  #27 (permalink)  
Old 02-23-2007, 02:02 PM
alan_in_tempe alan_in_tempe is offline
Veracitorian Muser
 
Real Name: Alan
Location: Tempe, Arizona
Hybrids: Toyota Camry Hybrid
Posts: 160
Default Re: Tax Credit Eligibility

I'm getting $2492 of the $2600. That is, I'm $108 over the AMT with the credit.

-- Alan
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  #28 (permalink)  
Old 02-26-2007, 02:08 PM
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Mr. Kite Mr. Kite is offline
Ridiculously Active Enthusiast
 
Real Name: John
Location: Colorado
Hybrids: 2006 Honda Civic Hybrid, 2007 Toyota Highlander Hybrid
Posts: 629
Default Re: We got the whole enchilada

Quote:
Originally Posted by kristian View Post
We haven't done the state taxes yet to know if we are going to get any of the $2650 state deduction, but we are entitled to the entire $2100 federal credit for our HCHII. My wife and I are DINKs with only our mortgage to deduct so we are pretty far away from needing to pay the AMT. My sympothies to anyone who does not qualify...
I got roughly $1950 for the federal credit, but got all of the state credit. I would certainly imagine that you will get all of the state credit as well. Our state is very generous.

.






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  #29 (permalink)  
Old 02-26-2007, 06:40 PM
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kristian kristian is offline
Pretty Darn Active Enthusiast
 
Location: Colorado Springs
Hybrids: 2006 HCH II, 2008 MMH
Posts: 329
Default Re: We got the whole enchilada

Quote:
Originally Posted by Mr. Kite View Post
I got roughly $1950 for the federal credit, but got all of the state credit. I would certainly imagine that you will get all of the state credit as well. Our state is very generous.
Yup, we got every dime. Yet another reason to love Colorado. We might need to buy another hybrid next year!
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  #30 (permalink)  
Old 02-26-2007, 07:46 PM
worthywads worthywads is offline
Pretty Darn Active Enthusiast
 
Real Name: Steve
Location: Ppls Rep. of Boulder
Posts: 480
Default Re: We got the whole enchilada

Quote:
Originally Posted by kristian View Post
Yup, we got every dime. Yet another reason to love Colorado. We might need to buy another hybrid next year!
Now if we could only get our TABOR money back.

.



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