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Phase Out Hybrid Car Credit-don't worry

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    Phase Out Hybrid Car Credit-don't worry

    Just a tip if anyone is worried about the phase-out of the Hybrid car credit (which the software will not do automatically). For these 06 returns, there is only one scenario where there would be a phase out (next year there will be more scenarios). You only take the 50% of the credit phase out if the Hybrid was a Toyota or Lexus purchased after Oct 1, 06. Any other scenario gets the full credit. By the way, becasue the Toyota built cars are so efficient, even at 50%, the credit will still be about the same or higher than most other Hybrids (each different Hybrid has it's own assigned credit amount).
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