2006 Tax Credit Forms

[JimN]

[attachmentid=6391][attachmentid=6390][attachmentid=6389]

Summary of the credit for qualified hybrids

http://www.irs.gov/newsroom/article/...157557,00.html

The link lists the 2005-2007 vehicles that qualify for the hybrid tax credit and the amount of the credit. Individuals will need to file forms 6251 and 8910 with their 1040 tax return to claim the credit.

[jesart]

<div class='quotetop'>QUOTE(JimN @ Jan 30 2007, 11:04 PM) [snapback]383138[/snapback]</div>

[attachmentid=6391][attachmentid=6390][attachmentid=6389]

Summary of the credit for qualified hybrids

http://www.irs.gov/newsroom/article/...157557,00.html

The link lists the 2005-2007 vehicles that qualify for the hybrid tax credit and the amount of the credit. Individuals will need to file forms 6251 and 8910 with their 1040 tax return to claim the credit.
[/b]

Your the man! thanks, Jim

[MegansPrius]

Thanks Jim!

[4chi]

Sweet...

Is TurboTax updating it yet? (I'm at work and TurboTax is at home)

[jimmylozza]

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.

[ajrowell]

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.

[filiberti]

Just did my Turbo Tax with 2007 Prius rebate 1/31 and Turbo Tax said I have to come back 2/16 to finish (I think they waiting for the IRS form ). It did report the correct amount $1575

[Walker1]

<div class='quotetop'>QUOTE(JimN @ Jan 30 2007, 11:04 PM) [snapback]383138[/snapback]</div>

[attachmentid=6391][attachmentid=6390][attachmentid=6389]

Summary of the credit for qualified hybrids

http://www.irs.gov/newsroom/article/...157557,00.html

The link lists the 2005-2007 vehicles that qualify for the hybrid tax credit and the amount of the credit. Individuals will need to file forms 6251 and 8910 with their 1040 tax return to claim the credit.
[/b]

Hi, I have 2 questions for you. Today I downloaded all the forms I will need for our return. However, my wife was given stock option shares of company stock 3 years ago. She sold the shares in 2006. Do we just use the schedule D form # 1065 along with the 1040 form? Also, I e mailed TaxACT & TurboTax asking them which product we needed given our minimal needs. I sure can't figure out what package to use. I do know I am going to use e file and do the return online. Can you shed some light on what might be the best pkg. for us? Thank you.

[randreed]

<div class='quotetop'>QUOTE(filiberti @ Jan 31 2007, 05:51 PM) [snapback]383544[/snapback]</div>

Just did my Turbo Tax with 2007 Prius rebate 1/31 and Turbo Tax said I have to come back 2/16 to finish (I think they waiting for the IRS form ). It did report the correct amount $1575
[/b]

Does anyone have more info on the TurboTax question? I don't understand why they want you to wait until the 16th - that does not make sense to me.

[kokid]

<div class='quotetop'>QUOTE(Rand Reed @ Jan 31 2007, 07:51 PM) [snapback]383582[/snapback]</div>

Does anyone have more info on the TurboTax question? I don't understand why they want you to wait until the 16th - that does not make sense to me.
[/b]

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.