I too was annoyed by TaxCut. I spent a substantial amount of time filling out all of my tax info online only to find out from their tech support that there is no way to get the hybrid tax credit with their online TaxCut this year.

I had to jump to Turbotax and start all over. I was pretty ticked. I don't think that a hybrid tax credit is all that complicated or uncommon for TaxCut not to have it.

 

When I claimed my Prius Tax Deduction (not credit) I was not required to supply any supporting documentation. I paper filed that return.

 

OK - thanks everyone.

I think a lot of people are going to be pissed off by the TaxCut online service. Hybrids are getting for more common, and there are probably tens (if not hundreds) of thousands of people who will be going through the entire interview only to find that they have to jump ship and use a different program/website.

 

Calculating a tax credit is a lot more complicated than having a simple additional tax deduction. Possibly, TaxCut just isn't equipped to handle this complication?

There are several different tax credits available to tax payers, in addition to the new hybrid tax credit. The total sum of all credits being claimed, cannot exceed the difference between the taxes you pay (1040 line 44), and the dreaded Alternative Minimum Tax (AMT). So, the one complication is having to actually calculate your AMT. More usually, AMT is something only the rich to had worry about, and I assume most of them have an accountant do their taxes.

I guess it is worse if you have other credits, too, like the Home Energy, Education, Adoption, etc.

I know I feel into this trap myself, and I will only be able to claim about 60% of the total hybrid credit allowed me, because of it.

 

Ok this sucks as this is the first I have heard of this with Taxcut. Taxcut asked me all about the alternative fuel vehicle and I input everything it asks for...it shows the $2600 credit. At the end it says I can't file yet because they don't have the required form yet and that it will be avalible in a later download, which sounds like what TurboTax is saying.

So we are sure here that Taxcut will NOT be supporting the credit? I have been filing with Taxcut since 2000 but this will cause me to switch and not come back if it is true.

 

Well I am quite releaved. I just got off the phone with the fine people at Taxcut...I was on with them for like 25 min.

Long story short is that ONLINE they are not supporting form 8910, BUT if you buy the CD there WILL be an update as soon as the form is ready from the IRS or whoever is the hold up.

 

Too late for me - I switched to Turbotax, and honestly I think it is better. It costs twice as much, but for me it handled some stock transactions more cleanly.

 

One nice thing about TurboTax is that the online app and desktop app are identical - they're literally built from the same calculation engine, interview logic, and formsets.

Sounds like TaxCut isn't.

 

I received a love note from Intuit/TurboTax ...

Dear TurboTax Customer,
The following final forms are now ready. If you added information or changed anything in your return since subscribing to the notification, there may be other forms which are non-final.
-Form 8910


Knock your socks off.

 

8910 is also good to go on TaxCut (not the online version...sorry).