Chevy Bolt 2023 preowned bought in 2024, I think will not receive credit, does it? please suggest

[bikyash]

I feel like 2023 preowned EV will not get tax credit if bought in 2024 but i do see it get credited in Turbotax, is it a miscalculation from turbotax? please give me suggestion, i like the credit but i feel like it may not qualify.

[Vanessa A]

If it is a 2023 Pre-owned, then no, you should not be getting the credit.  The credit for used vehicles states that the credit should be at least 2 years old. So if you bought it in 2024, then it would need to be a 2022 or older.  Did you enter it for a new credit?  If you selected a new credit, the requirement is that you are the first owner, so even a 2023 leftover would qualify.  

The simplest thing is to delete the credit.  You can do this by deleting form 8936.  

1. From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.)
2. On the drop-down select Tools
3. On the Pop-Up menu titled “Tools Center,” select Delete a Form 
4. This will show all of the forms in your return
5. Scroll down to the form you want to delete
6. Select the Form
7. Click on Delete. 

Always use extreme caution when deleting information from your tax return.  There could be unintended consequences. 

[Vanessa A]

If you could send a diagnostic file prior to deleting the form, that would be appreciated. 

I would like to take a deeper look at this. However, I need a diagnostic file which is a copy of your tax return that has all of your personal information removed. You can send one to us by following the directions below:

TurboTax Online:

1. Sign into your online account.
2. Locate the Tax Tools on the left-hand side of the screen.
3. A drop-down will appear. Select Tools
4. On the pop-up screen, click on “Share my file with agent.”
5. This will generate a message that a diagnostic file gets sanitized and transmitted to us.
6. Please provide the Token Number that was generated in the response.

TurboTax Desktop/Download Versions:

1. Open your return.
2. Click the Online tab in the black bar across the top of TurboTax and select “Send Tax File to Agent” *
3. This will generate a message that a diagnostic copy will be created.  Click on OK and the tax file will be sanitized and transmitted to us.
4. Please provide the Token Number (including the dash) that was generated in the response.

*(If using a MAC, go to the menu at the top of the screen, select Help, then, “Send Tax File to Agent”)

@bikyash 

[bikyash]

thank. you so much for your responses. 

Token number : 1302330

[bikyash]

Its a preowned EV, so it can't be new or new owner. But well just that its calculated automatically but i see that it has to be 2022 or older, but wanted to make sure if i may not miss out on it.

[Vanessa A]

There was an update today April 25, that resolved this issue.  Now, if you enter a model that is too new for the credit, you will get a message saying you cannot claim due to the year of the vehicle.