Clean Vehicle Credit for S Corp

[Dapack1974]

How to add Form 8936 "Clean Vehicle Credits" in turbo tax Business (S corporation) software? Please advise how to claim the $7500 credit for K1s.

[PatriciaV]

Form 8936 and Schedule A for that form are not supported for TurboTax Business. You can find these forms from the IRS website (links below). 

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.

IRS links to forms & instructions:

• Commercial Clean Vehicle Credit
• Instructions for Form 8936 (2024)
• Form 8936
• Form 8936 Schedule A, Clean Vehicle Credit Amount