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Level 1

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?

8 Replies
Level 6

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.

Level 1

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?
Level 6

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.
Level 1

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.
Level 6

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.
Level 2

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?

Level 6

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?

 

Level 20

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...