View Poll Results: How much of the Federal Tax Credit will you receive?

All of it!

48.37%

> 80%

4.58%

60-80%

4.58%

40-60%

8.50%

20-40%

7.84%

<20%

3.27%

Nothing! Nada! Zilch!

22.88%

Voters: 153. You may not vote on this poll

Tax Credit Eligibility

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#21

02-20-2007, 05:49 AM

oscars2212

Active Enthusiast

Join Date: May 2006

Posts: 59

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...

#22

02-20-2007, 08:02 AM

HybridVue

Active Enthusiast

Join Date: Jan 2007

Posts: 120

Re: Tax Credit Eligibility

I qualify for the full tax credit. However, with the Saturn Hybrid Vue it is only $650.

#23

02-21-2007, 09:21 AM

Sledge

YA RLY.

Join Date: Dec 2005

Location: Saginaw, MI

Posts: 610

Re: Tax Credit Eligibility

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

#24

02-21-2007, 06:27 PM

Revrunt

Hybrid Nutbar

Join Date: Aug 2006

Location: Henderson, NC

Posts: 27

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.

#25

02-22-2007, 10:54 AM

FEH_Fan

Enthusiast

Join Date: May 2006

Posts: 1

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!!

#26

02-22-2007, 04:32 PM

BrisPrius

Enthusiast

Join Date: Jul 2006

Posts: 5

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.

#27

02-23-2007, 02:02 PM

alan_in_tempe

Veracitorian Muser

Join Date: Jun 2006

Location: Tempe, Arizona

Posts: 334

Re: Tax Credit Eligibility

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

-- Alan

#28

02-26-2007, 02:08 PM

Mr. Kite

Ridiculously Active Enthusiast

Join Date: May 2006

Posts: 713

Re: We got the whole enchilada

Quote:

Originally Posted by kristian

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.

#29

02-26-2007, 06:40 PM

kristian

Ridiculously Active Enthusiast

Join Date: Nov 2006

Location: Colorado Springs

Posts: 773

Re: We got the whole enchilada

Quote:

Originally Posted by Mr. Kite

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!