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Tax credit and AMT

Discussion in 'Gen 2 Prius Main Forum' started by vibeowner, Feb 3, 2006.

  1. vibeowner

    vibeowner New Member

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    I heard one caution about the 2006 credit on hybrids. If you are near the borderline for owing alternative minimum tax, the credit could push you into AMT territory. If this happens, some or all of the credit could go to pay AMT.
     
    #1 vibeowner, Feb 3, 2006
  2. Kiloran

    Kiloran New Member

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    Aug 31, 2005
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    Yep.
    The credit will not lower your tax liability below your AMT.
    (old news on this site ;) )
     
    #2 Kiloran, Feb 3, 2006
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