cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

In 2018 TT did not reduce line 22 on form 8801 by my $7,500 Electric Car Credit. Is this right?

In 2018 I'm taking a $7,500 credit on form 8936.  This transferred to line 54(c) on schedule 3.  Turbo Tax did not reduce line 22 on form 8801 for this credit amount and as a consequence calculated an AMT credit carryover utilization in 2018.  This appears contrary to the IRS instructions.  Who is right?

14 Replies
Level 4

In 2018 TT did not reduce line 22 on form 8801 by my $7,500 Electric Car Credit. Is this right?

Hey, you're right! Thanks for bringing this to our attention! I'll try to reply back when we learn when the fix will be released.

I don't think you'll be able to e-file if you override the 8801 line 22 to input the correct value.

Highlighted
New Member

In 2018 TT did not reduce line 22 on form 8801 by my $7,500 Electric Car Credit. Is this right?

I think I'm encountering a similar issue. I expected to receive a $7500 tax credit for an electric vehicle purchase, but my total tax liability decreased by only $2900. When I remove the electric vehicle form from TurboTax, the credit for prior year AMT reappears. I gather from the original question that you can claim only one of these credits (correct?). And that I will be able to apply the credit for prior-year AMT to next year's return?
Highlighted
Level 4

In 2018 TT did not reduce line 22 on form 8801 by my $7,500 Electric Car Credit. Is this right?

That's right. Credits are used in a particular order and unused ones carry to the subsequent year if they have carryover provisions.
Highlighted
New Member

In 2018 TT did not reduce line 22 on form 8801 by my $7,500 Electric Car Credit. Is this right?

When did turbotax fix this issue? I had a bigger tax refund on April 5 , last night when i logged in the tax refund reduced since my line 22 value changed i am guessing it is because of this fix.
Highlighted
Level 4

In 2018 TT did not reduce line 22 on form 8801 by my $7,500 Electric Car Credit. Is this right?

That issue was fixed in the April 4 update.
Highlighted
New Member

In 2018 TT did not reduce line 22 on form 8801 by my $7,500 Electric Car Credit. Is this right?

If I filed before the April 4 update, do I need go file an amended return?

Highlighted
Level 1

In 2018 TT did not reduce line 22 on form 8801 by my $7,500 Electric Car Credit. Is this right?

My tax returns were filed on March 31, 2019.  So your update wasn't in my tax return.  Now I owe $6600.  Are you responsible since you didn't tell anyone not to file?

 

Highlighted
Level 15

In 2018 TT did not reduce line 22 on form 8801 by my $7,500 Electric Car Credit. Is this right?

Yes you need to amend the return if the return filed is incorrect.

As for the accuracy guarantee ... if you wind up owing after the correction due to this issue you can complete an accuracy guarantee submission :

Any calculation errors on the part of TurboTax are covered under the Accurate Calculation Guarantee. TurboTax will pay any penalties and/or interest due to a calculation error but not any taxes owed. The Guarantee does not cover any user entry errors or omissions.

See this TurboTax support FAQ for the 100% Accurate Calculation Guarantee - https://ttlc.intuit.com/questions/2566201-what-is-the-turbotax-100-accurate-calculation-guarantee

See this TurboTax support FAQ for submitting a claim - https://ttlc.intuit.com/questions/1901269-how-do-i-submit-a-claim-under-the-turbotax-100-accurate-ca...

See this TurboTax support FAQ for documents needed to submit a claim - https://ttlc.intuit.com/questions/1901060-what-documents-do-i-need-to-submit-a-claim-under-the-turbo...
Highlighted
New Member

In 2018 TT did not reduce line 22 on form 8801 by my $7,500 Electric Car Credit. Is this right?

This seems to be a problem again in Turbo Tax 2019.  Do you know if/when it will be fixed?

 

I seem to be having a problem others had with Turbo Tax last year.  I expected to receive a $3750 tax credit for an electric vehicle purchase, but my total tax liability decreased by substantially less. When I remove the electric vehicle form from TurboTax, the credit for prior year AMT reappears.

 

Based on the original question from the thread I am replying to, it looks like the current version of Turbo Tax will only allow one to claim one of these credits.  Is this correct? I would like to be able to claim both for tax year 2019.  Will this be corrected in a software update?  Otherwise it looks like I would have to apply the credit for prior-year AMT in next year's return, no?

Highlighted
Employee Tax Expert

In 2018 TT did not reduce line 22 on form 8801 by my $7,500 Electric Car Credit. Is this right?

The AMT credit would only apply if you didn't have AMT tax for the current year. It is possible that when you apply the vehicle credit that you then end up with an AMT tax. Do you have an AMT tax on your return when you are getting the vehicle credit? (Schedule 2, line 1)

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Highlighted
New Member

In 2018 TT did not reduce line 22 on form 8801 by my $7,500 Electric Car Credit. Is this right?

No, this year I have no AMT tax on my return either before or after applying the electric vehicle credit.

Highlighted
New Member

In 2018 TT did not reduce line 22 on form 8801 by my $7,500 Electric Car Credit. Is this right?

Working through the involved forms backwards, Turbo Tax 2019 seems to be following 2019 IRS instructions.  

 

I seem to be in a strange situation where I have no AMT this year but a "tentative minimum tax" that on form 8801 forces me to take a "credit carry forward to 2020".  I had never heard of such a thing since I have the tax liability for the full electric vehicle tax credit.

 

Since the electric vehicle tax credit must be used the tax year the vehicle was purchased (2019) or it is lost, I will have to use it this year.  Hopefully, next year I do not have AMT and can carry forward my old AMT tax credit for use then.

Highlighted
New Member

In 2018 TT did not reduce line 22 on form 8801 by my $7,500 Electric Car Credit. Is this right?

Hi, I am having the same exact issue for my 2019 return.

 

Turbotax, please advise on what we should do.

 

 

Highlighted
Employee Tax Expert

In 2018 TT did not reduce line 22 on form 8801 by my $7,500 Electric Car Credit. Is this right?

This is a known issue through Turbo Tax and they are actively trying to resolve the issue. Once this is resolved we will notify you. Here is a signup link to receive notification that the situation has been resolved.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"