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Get your taxes done using TurboTax
No, this is not a TurboTax problem. The EV tax credit is not refundable. This means that it only offsets income tax. Less well known is that that it doesn't offset self-employment tax either.
If you look at the second page of your 1040, your total income tax appears on line 18. Your total non-refundable credits appear on lines 19 and 20.
Line 22 is your total tax after non-refundable credits. For you that amount should be $0. On line 23, the self-employment tax is added.
If you check those lines and still have questions, just reply back to this thread.
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‎February 14, 2023
5:51 AM