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Kvanhutton
Returning Member

Chevy Bolt tax credit not being applied

I entered the information for my Bolt EV, purchased 2/6/2020, making it eligible for 25% of the original full tax credit, or $1875.  My tax liability is plenty high enough, and I see that the form (8936) is now available, but TT will not apply the credit.  I see that this has been previously discussed, but now that the forms are complete it is still not applying the credit correctly.

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3 Replies
AnnetteB6
Employee Tax Expert

Chevy Bolt tax credit not being applied

Be sure that you do not change the maximum credit amount shown on the screen, otherwise the calculation will not be correct.  

 

Here is the explanation:  

 

TurboTax will calculate your maximum credit based on the details entered for your vehicle and any applicable phase-out based on the purchase date. 

 

On the screen where it shows the amount of credit you qualify to receive, the box at the bottom of the page is showing the maximum credit that would have been allowed for your vehicle had a phase-out not applied.  Your credit may be limited by the phase-out.  If you change the number on that screen, your credit will not be calculated correctly.  

 

See the picture below for a visual reference.

 

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Kvanhutton
Returning Member

Chevy Bolt tax credit not being applied

Thanks, but I never got the screen you show. I entered all of the info, and it went back to the EV credit list, which showed the car but did not show a credit. 

JotikaT2
Employee Tax Expert

Chevy Bolt tax credit not being applied

I recommend reviewing your input from the Deductions & Credits screen to ensure any updates have applied to your program.

 

Your input will need to be done in the Energy-Efficient Vehicles section under the section titled Your tax breaks.

 

Click Edit to the right of Energy-Efficient Vehicles.  You should see your vehicle listed as shown in the sample below.

 

Energy efficient vehicle input

Select Edit to the right of your vehicle and be sure you answer all of the questions.  Sometimes leaving one entry blank will result in the calculation not being done.  

 

Details

If you enter all of this information, the credit should generate and will be reflected on the Your tax breaks screen as shown in the sample below.

 

Tax breaks

 

Please comment if you are still having issues so we can assist you further.

 

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