Electric Vehicle Credit - Is there a carryover?

[BulldogTom]

Does the Chevy Volt Credit have a carryover? If you qualify for 7500, but you only have 2k in taxes, can you carry the rest to 2012?

Thanks

Tom

Lodi, CA

[Kea]

From what I've read, no. (Don't remember the cite right now.)

My client with a Volt had the tax to cover it (courtesy of converting an IRA to Roth).

[kcjenkins]

That is why I call that a tax break for the rich, Tom. Only people who can get a real benefit from it have to not only be able to pay $42K for a car, they have to owe enough taxes to absorb it. Funny that it is Obama that is pushing this one, when he so hates "TAX BREAKS FOR THE RICH", isn't it?