2006 Tax Credit Forms

[JimN]

<div class='quotetop'>QUOTE(Les Gas @ Jan 31 2007, 11:28 AM) [snapback]383297[/snapback]</div>

If I bought the Prius in Jan. 07, then I have to wait to next year to claim it, right?

The wording on the IRS site is vague... They don't seem to directly say you have to claim it in the tax year it was purchased.
[/b]

Your 2006 return covers the period 1/1/06--12/31/06 unless you are on a fiscal year. One can not arbitrarily move income, expenses, deductions, or credits.

<div class='quotetop'>QUOTE(ajrowell @ Jan 31 2007, 12:58 PM) [snapback]383353[/snapback]</div>

I called the IRS and got through to the office that handles the Form 8910. No person there could tell if me there was a recapture provision. They assumed there was not and offered me to call back at the end of the day, giving them time to put on their waders and look around a bit.

As it stands now there doesn't appear to be a recapture provision if you sell the vehicle in 2007 or 2008.

I will keep you all posted if I hear of something different.
[/b]

I agree that right now there is no recapture provision. You never know what they will do in the future.

[JimN]

<div class='quotetop'>QUOTE(kokid @ Jan 31 2007, 09:08 PM) [snapback]383617[/snapback]</div>

There is another thread on this (I'm not sure why this thread was started separately). Form 8910 is available on the IRS site, but TurboTax needs to program into the software.
[/b]

I started this thread so the forms and schedule could be found in one place.

[Pinto Girl]

Thank you!!

[New Revelation]

<div class='quotetop'>QUOTE(kokid @ Jan 31 2007, 09:08 PM) [snapback]383617[/snapback]</div>

There is another thread on this (I'm not sure why this thread was started separately). Form 8910 is available on the IRS site, but TurboTax needs to program into the software.
[/b]

Seems to be already done for my TT when i checked in yesterday....the online version of the form was available as I showed in my other thread.

[samoan_ridah]

Will we be able to get that money back if we don't owe any taxes?

[leisureman]

Thanks for the downloads, JimN!

[ohgreys]

<div class='quotetop'>QUOTE(Hopeful Future Prius Owner @ Jan 31 2007, 11:17 PM) [snapback]383671[/snapback]</div>

Seems to be already done for my TT when i checked in yesterday....the online version of the form was available as I showed in my other thread.
[/b]

I updated my TT last night and also got the message (there was a screen shot of it in the other thread) saying that TT was still working on the calculations for the form.

Will we be able to get that money back if we don't owe any taxes?[/b]

If your tax liability for 2006 is $0 then no, you won't get any money back. If you mean that you still owe more taxes on top of what you had deducted from your paychecks throughout 2006, the answer is maybe.

[uclabruins]

Thank you...

[Walker1]

<div class='quotetop'>QUOTE(PLM @ Feb 2 2007, 11:55 AM) [snapback]384426[/snapback]</div>

Just hung-up the phone with the IRS. FORM 8910 IS AVAILABLE FOR DOWNLOAD [i][color=#FF0000]FROM THEIR WEBSITE. Unfortunately TurboTax has no clue. It claims that it will be available in mid-Feb. Probably their own incompetency in programming. I intend to print out my return, use the IRS 8910, then file by mail. Much faster than waiting for Quicken TurboTax.
[/b]

To All: I had some good luck yesterday with an IRS employee. 1) All the forms we need for the 2006 tax credit are on the IRS site. 2) I have never done the forms needed for the 2006 tax credit and I was somewhat lost after reading all the pages of directions for form numbers 8910 and 6251.

I called the IRS and got a lady that was super. I explained my situation and she spent the next 1 1/2 hours going over my entire tax return! She went over the 1040, 8910,6251, and then told me she uses TaxAct online to do her returns. I guess this should help everyone who is still wondering what's up.

[PLMurphy]

<div class='quotetop'>QUOTE(kokid @ Jan 31 2007, 09:08 PM) [snapback]383617[/snapback]</div>

There is another thread on this (I'm not sure why this thread was started separately). Form 8910 is available on the IRS site, but TurboTax needs to program into the software.
[/b]

Just hung-up the phone with the IRS. FORM 8910 IS AVAILABLE FOR DOWNLOAD [i][color=#FF0000]FROM THEIR WEBSITE. Unfortunately TurboTax has no clue. It claims that it will be available in mid-Feb. Probably their own incompetency in programming. I intend to print out my return, use the IRS 8910, then file by mail. Much faster than waiting for Quicken TurboTax.