[jeffmc306]

My wife spoke to an IRS agent today regarding the Alternative Motor Vehicle Credit. He explained you can claim up to the total amount of the credit (Jetta = $1300) depending on the amount of your tax liability (the amount of tax you owe or paid).

For example, if your employer took out $1,000 in taxes for 2009, you could take a credit of $1,000; if they took out $10,000, you could take the whole $1,300 credit. The key is the amount of tax liability, not whether you will owe or get a refund. (Note: this may not apply if you are subject to the AMT-alternative minimum tax).

We used the H&R Block "at Home" deluxe program, which filled in the form relating to the tax credit (form 8910).

 

[chittychittybangbang]

AMT restrictions lifted for 2009 tax year. To the best of my knowledge, your examples as stated are correct because it's a nonrefundable credit. I'm not an accountant but the info with references are in the TDI tax credit FAQ http://www.myturbodiesel.com/1000q/TDItaxcredit.htm

 

[blupearl]

IMHO, if your taxes are easy you can use those software programs. If you have many investments which can't be straight imported into a tax return software program you should still go to a CPA or the like. H&R block or those other guys are useless. They just sit there and enter your information into the software and know nothing about anything more than entering info into the software. There are many complaints about them as well, so go DIY software or go pro.

 

[minienigma]

Updates regarding tax credit posted on VW TDI site

Hi,

Just wanted to point out the update regarding the tax credit on VW website, that they have reached 60k units sold (as predicted), and 100% of the tax credit is valid through June 30, then 50% from July 1 - December 31 2010:

http://tdi.vw.com/tdi-clean-diesel-tax-credit-update/

 

[chittychittybangbang]

Thanks, I will add that to the tax credit page now.

 

[JackA3A4]

As a clarification, I believe the phaseout applies only to VW, not to Audi. They appear to be treated as separate manufacturers. The complete list of credits for diesels is here (note that this had not been updated for the VW phaseout as of today):


http://www.fueleconomy.gov/feg/taxLeanburn.shtml

 

[chittychittybangbang]

My suspicion is that VW and Audi will be treated as the same manufacturer because they use the same engines. This is because Lexus/Toyota hybrids were treated as the same. However, the Nissan Altima uses the Toyota hybrid system and wasn't treated as the same so I don't know.

 

[minienigma]

I think VW and Audi would probably be treated as one as well.... Main reason is because they are like different divisions of the same company, sharing platforms, engines and other parts . Toyota and Lexus, like VW and Audi, are different divisions of the same company, sharing platforms, and other parts, therefore are treated as one. Nissan and Toyota, however, are completely separate entities -- other than the hybrid system, they share little else.

 

[Subaruski]

So if i just purchase an A3 TDI can I still apply for this credit? Maybe amend my 2009 return?

 

[chittychittybangbang]

I'm not an accountant but I don't see how you could purchase a car in 2010 and use it in your 2009 return.

 

[Subaruski]

I'm not an accountant but I don't see how you could purchase a car in 2010 and use it in your 2009 return.

I did that for my tax credit when i bought my house. Just a thought.