turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Vaapad
Returning Member

Question About 2023 EV Credit Input

When I go through the software prompts to enter my EV info, after I enter the VIN, make/model and entered service date as prompted, the next screen ASKS ME to enter the "tentative" credit amount, and offers a website link for me to look up my own credit.

 

Is this normal? I expected the software to TELL ME what my credit would be based on the VIN/make/model, etc.

And when does "tentative" become actual?

 

Thanks all.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Question About 2023 EV Credit Input

You're correct -- this isn't normally how credit computations work.  the credit amount is tentative because the manufacturer or domestic distributor of the vehicle will tell you the amount of the credit allowable, based on your specific make, model, and model year.  This isn't a typical procedure for other credits.

 

According to Line 9 in the Specific Instructions for Schedule A (Form 8936) in the Instructions for form 8936

Tentative credit amounts for new clean vehicles are provided to the purchaser by the seller at the time the vehicle is sold, and later forwarded to the IRS. Generally, this amount will be the maximum credit amount listed in the seller’s report for the vehicle.

Since the seller is using the maximum allowable amount, it's possible that the actual amount could be lower.  However, you should use this number when filing Form 8936 to claim the credit.  If there should be a change, you'll presumably be notified, although no guidelines appear to have been established.

Vaapad
Returning Member

Question About 2023 EV Credit Input

Thank you -- and I do see the credit amount I expected on the Form 15400 generated by the manufacturer.

 

Appreciate the response, and glad to know this seeming irregularity is correct in this instance.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question