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Deductions & credits
As previously posted:
Once you have calculated the amount on Form 8936 Part II Line 8, you can enter this using Forms Mode in TurboTax on Form 1120S p5-6 Line 13 (under Credits) in the extra line below Code O. Use the drop-down to select Code AY (New Clean Vehicle Credit) then enter the amount in the box to the right. The total will be allocated to all partners on Schedule K-1 Box 13 Code AY.
1a&b) No entries are made on Schedule K-1, only on Form 1120S.
2) Yes, include Form 8936 with your printed return.
3) Yes, print, sign, and mail the forms required for filing to the address on the filing instructions provided by TurboTax.
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March 31, 2025
8:49 AM