Nia Monopoli: Not refundable. It only reduces your tax liability.
Melissa Lavallie: It's a credit so it will increase your refund or reduce what is owed. Not a good trade considering how much more you'll spend for the car.
Lia Argall: Nonrefundable CreditsPlug-in Electric Drive Motor Vehicle CreditPlug-in Electric Vehicle CreditThe credits discussed in this part of the chapter can reduce your tax. However, if the total of these credits is more than your tax, the excess is not refunded to you.Alternative Motor Vehicle CreditYou may be able to take this credit if you place a qualified fuel cell vehicle in service in 2011. The credit is also allowed for the cost of converting a vehicle to a qualified plug-in electric drive vehicle.The credit has expired for advanced lean burn technology vehicles, qualified hybrid vehicles, and qualified alternative fuel vehicles purchased after 2010. You cannot claim the credit on your 2011 return for these vehicles. However, yo! u may be able to claim the credit for one of these vehicles purchased in 2010 but not placed in service until 2011. http://www.irs.gov/publications/p17/ch36.html#en_U...Hope that you find the above enclosed information useful. 05/10/2012...Show more
Rodrigo Pezley: It's not refundable so applies just to reduce the tax you pay. But that includes anything you paid in for the year and don't get back. It doesn't matter whether you owe or not when you file.
Arlen Hamper: if you have 0 income tax liability, you will get a refund of your withheld income tax but there are not many 'below the line' credits that actually amount to more in your refundthose would be included in lines 64 thru 71 for refundable credits
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