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I bought a used 2022 Chevrolet Bolt EUV in 2024. Why is TurboTax only allocating $1.3k of the $4k EV credit, even though that leaves me w/ $3.2k due in federal taxes?
I am self-employed and eligible for ACA Marketplace subsidies and the QBI deduction, but that still leaves me with more tax due than the amount of the credit. I had factored in the $4k EV credit when paying my estimated taxes, and if the full amount isn't applied, I will owe a penalty.
March 13, 2025
10:44 AM