Ack! We've been zapped by the Alternative Minimum Tax! Our double (but similar) incomes combined with our whopping tax shelters (2 kids + mortgage interest) somehow means we can only take about $1450 of the $3150 tax credit for the hybrid we purchased this year.
Of course, if we made over $750,000, we could take the whole thing.
S. F. Chronicle Article: Hybrid Tax Credit Bait and Switch
Tuesday, February 27, 2007
Frak!
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1 Comment:
Oh wow. That is yet another one of the many absurdities of the present tax code.
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