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vandozeir
New Member

Oklahoma 567-A Credit for clean burning motor vehicle. I'm eligible for $5500, but turbot tax keeps putting in only $1500, The form was redone in 2020. Anyone use cng?

 
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4 Replies
RayW7
Expert Alumni

Oklahoma 567-A Credit for clean burning motor vehicle. I'm eligible for $5500, but turbot tax keeps putting in only $1500, The form was redone in 2020. Anyone use cng?

If the 50% credit has not been claimed by any prior owner and the vehicle is purchased with qualified clean-burning motor vehicle fuel property installed by the manufacturer of such motor vehicle and you are unable or elect not to determine the exact basis which is attributable to such property you may claim a credit equal to the lesser of 10% of the cost of the motor vehicle or $1,500.

 

A credit equal to 50% of the cost of the qualified clean-burning motor vehicle fuel property is allowed. For purposes of this credit “qualified clean-burning motor vehicle fuel property” means:

• Equipment installed to modify a motor vehicle which is propelled by gasoline or diesel fuel so the vehicle may be propelled by compressed natural gas, liquefied natural gas or liquefied petroleum gas. The equipment must be new and must not have been previously used to modify or retrofit any vehicle propelled by gasoline or diesel fuel.

• A motor vehicle originally equipped so the vehicle may be propelled by compressed natural gas, liquefied natural gas or liquefied petroleum gas, but only to the extent of the portion of the basis of such motor vehicle which is attributable to the storage of such fuel, the delivery to the engine of such motor vehicle of such fuel, and the exhaust of gases from combustion of such fuel.

 

If the credit is being claimed for more than one vehicle, complete a separate Form 567-A for each vehicle. But fill in the “Part 4” on only one Form 567-A. The figures in Part 4 should be the combined totals for all credits reported on your Forms 567-A

vandozeir
New Member

Oklahoma 567-A Credit for clean burning motor vehicle. I'm eligible for $5500, but turbot tax keeps putting in only $1500, The form was redone in 2020. Anyone use cng?

I already know the credit in and out.  I've used the credit before by paper mail in. My problem is with the tax software. It's not correct and I cant manually fix it. So do I abandon turbotax and go back to paper?

vandozeir
New Member

Oklahoma 567-A Credit for clean burning motor vehicle. I'm eligible for $5500, but turbot tax keeps putting in only $1500, The form was redone in 2020. Anyone use cng?

I have all the paper work to justify the cost basis. 

DMarkM1
Employee Tax Expert

Oklahoma 567-A Credit for clean burning motor vehicle. I'm eligible for $5500, but turbot tax keeps putting in only $1500, The form was redone in 2020. Anyone use cng?

As @RayW7 mentions the MAX is $1500 per form (vehicle).  Can you clarify? Do you have several vehicles and or carryover from previous years that get you to $5500?  TurboTax does allow and calculate those situations to get the proper credit.  

 

In the OK state interview when entering data for the credit:

  1. You can enter in the amount for the current year in the top box
  2. Any carry over from previous years in the 2nd box 
  3. If you have more than 1 form (vehicles) you would put the total current year in box 3
  4. Carryover amount from box 2 into box 4
  5. Finally the number of forms (vehicles) in box 5. 

 

Note:  The amount in box 3 cannot be more than 1500 times the number in box 5.  

 

  

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