There are a couple of limitations on the credit amount as listed below. As for your car registration fee, that is an itemized deduction and not part of Plug in EV credit. Your personal car insurance is not deductible.
The top EV credit is $7,500 calculated:
- $2,917 for a vehicle with a battery capacity of at least 5 kilowatt hours (kWh)
- Plus $417 for each kWh of capacity over 5 kWh
The EV Credit is non-refundable - meaning you can't get back more than you owe in taxes. You also cannot apply excess to future years.
Click here for more information on the EV credit for cars purchased before 2023.
You can see how your credit may have been limited by looking at Lines 16 and 20 on your form 1040. Line 20 comes from Schedule 3. Line 6f shows the credit amount. You can see these forms in your online version using the steps below.
Please take these steps to preview your 1040 in TurboTax Online:
1. Login to TurboTax Online (https://turbotax.intuit.com/)
2. Click on "Pick up where I left off"
3. Select "Tax Tools" from the menu on the left side of the screen
4. Next select "Tools" from the drop-down menu on the left side of the screen
5. Then click "View Tax Summary" from the pop-up menu
6. Lastly, click on "Preview My 1040" from the menu on the left side of the screen.
As @xmasbaby0 mentions you have paid for "Live help" and should certainly take advantage of that purchase.
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