EV Credit for Tesla 3

[Hoololly]

ETA: I sorted it out.  $469 is 25% of the $1,875 credit I'm eligible for.  So if I change my credit to $7,500, it correctly limits to $1,875.  This is not at all intuitive or explained anywhere.  Seems like Turbotax should be able to calculate the correct credit amount based in my VIN and delivery date, rather than requiring me to enter an incorrect amount and then applying a limit.  Do better, intuit!

Prior to the "fix" turbotax was correctly calculating my credit at $1,875, as I took delivery of my Model 3 in November.  Now it's telling me my credit is limited to $469?!?!  This makes no sense.  I owe enough taxes that I should be able to take the full $1,875 credit, and I don't have any other credits or deductions that conflict.  Seems like there's still an error in the EV credit calculation!!

[eastsonlee]

My turbotax still cannot show the corrected amount. It's already updated to the latest version.

I bought the Volt 2019 in July. I think the credit should be 50% of 7500, which is 3750. Correct me if I'm wrong.

In turbotax I've put the year, vin, maker, and model. It showed up the 7500 in the end. (I've put 'Chevy' in maker as it suggested to find out the phase out percentage). 

On form 8936, it only shows 7500 on Part IV B (A is empty), and 16 and 17 are all 7500. Is there any part I need to manually correct?

I've seen some people mentioning the number will be corrected in the end. But so far I haven't seen it. Where it would happen? Can some one please give more details? Thanks!

[rustneversleeps]

Having the same problem trying to claim the credit on a Bolt. Was on the phone with TurboTax for a long time this morning. It sounds like they are aware of the problem, but couldn’t offer any solutions or a guess as to when it might be working. Seems like it works for some some, maybe they having the coding fixed for some makes/models?

[Hans4]

just wondering - you mention part VI, my form 8936 only has parts I, II and III. Are you using the 2019 version? Or are you using the car for business? Otherwise wouldn't know why yours is different.

[eastsonlee]

Sorry I was looking at the wrong form. Yes, 8936 only has three parts. I just realized that I can manually change the phase out percentage on the form. The number is correct now. The problem seems to be turbotax is not able to pull out correct the phase out percentage. Can anyone please confirm if the manual change of the percentage on form 8936 can get e-fill succeeded?

[16vjohnny]

It does work. I put $7,500 in the override box, and my 04/2019 Model 3 correctly came out to the $3,750, the correct amount. I e-filed a few days ago and it was accepted by the IRS 6-8hrs later.

[mauiiiiii]

Nope. Credit for a new Tesla says $7500. Yet is supposed to be on;y 50% of that based on amount of vehicles Tesla has sold. Last time I checked, my TT application (with current updates) was till giving me $7500. Would love that amount. But will Intuit pay any penalties for taking the full $7500 credit? Or will I be liable for that!!!

[CatinaT1]

The fix for Form 8936 was included in the February 20th release.  As insurance, delete Form 8936 and reenter it.  It should go through then.

[olsonuf06]

I do not think this is accurate.  

TurboTax still calculates the rebate incorrectly.  I could manually override (again) and re-submit, but I see numerous people on this and other forums stating that their tax returns have been rejected even since the February 20th release.  Don't want to get my tax return rejected again.

This is very frustrating that TurboTax can't seem to straighten this out for weeks.  

[tuurboaccord]

The form is now calculating correctly.  You need to keep $7500 listed regardless of purchase date and TurboTax then calculates your ACTUAL credit based on delivery date.  I took delivery of my Model 3 at end of November ($1875).  

I entered $7500 in the box on the software, the federal credit went up by $1875.  Then if you check the PDF of what they are actually filing it also shows $1875.

I just refiled today so we'll see if it goes through.  Assuming it does Turbotax MUST update the form to better explain to folks how this works as it is very misleading and many of us have spent too much time trying to figure it out.

[olsonuf06]

Did it work? Was your tax return rejected by the IRS again? 

[mauiiiiii]

Hasn't been rejected!