topic EV federal credit in Deductions & credits

EV federal credit

vwoodfill — Thu, 06 Feb 2020 00:46:54 GMT

When will the federal tax credit for electric vehicles purchased in 2019 form be ready for TurboTax? Your site said today, 2/5/2020, but it's still unavailable.

Re: EV federal credit

VictoriaD75 — Thu, 06 Feb 2020 01:01:25 GMT

Taxpayers are allowed a credit for the purchase of plug-in electric drive vehicles used for either business or personal purposes. The credit, which ranges between $2,500 and $7,500 for light-duty vehicles, varies depending on the weight of the vehicle and kilowatt hour of battery capacity.

The credit phases out for each car manufacturer when they reach a total of 200,000 electric cars sold for use in the United States.

To determine if you are eligible, click on Deductions & Credits under the Federal menu. Under Cars and Other Things You Own, choose Start/Revisit next to Energy-Efficient Vehicles. Currently, this form is not available, as TurboTax is waiting for updates on the approved vehicles. This credit is reported on Form 8936, which is estimated to become available on February 12, 2020.

Plug-In Electric Drive Vehicle Credit

Federal Forms Availability

Re: EV federal credit

CStyles45 — Fri, 07 Feb 2020 00:18:07 GMT

Same. Still showing unavailable for me also!

Re: EV federal credit

DoninGA — Fri, 07 Feb 2020 00:19:46 GMT

@CStyles45 wrote:

Same. Still showing unavailable for me also!

Should be available on 02/12/2020

https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_windows_individual.html