I am in the Enter your Carryforward Information section of Turbotax under the Business Income and Expenses section. It shows:
"Your tentative business credit carryforward from 2018 is $759.
If you carried back any of this amount to a prior year, enter only the carryforward amount that remains in the Carryforward Amount field below. If you used up all the credit, enter zero."
The fields presented are the unused credit that you are carrying forward, and the year this credit was first claimed. I'm assuming it's from my 2017 taxes for the "Qualified plug-in electric vehicle carryover," but I have no way of knowing where this $759 number presented in Turbotax comes from. A text search of my 2018 tax returns does not have "759" anywhere.
I have no way of finding out if I used up this credit, or how it works. One would think that my 2018 Turbotax would provide the information needed to automatically have that information pre-selected here, but that does not seem to be the case. The "Learn More" link is no help in letting me know what to enter. I would prefer not to miss out on this $759, but am not sure what to enter.
You'll need to sign in or create an account to connect with an expert.
Do you happen to have Form 3800 on your 2018 tax return? This is for the General Business Credit. The instructions for this form and the carryforward of the credit can be found in the link below.
Do you happen to have Form 3800 on your 2018 tax return? This is for the General Business Credit. The instructions for this form and the carryforward of the credit can be found in the link below.
I do have that form. I looked through it and found a number that is $759 less than the total credit for that year, which now makes sense. It's interesting that without Turbotax I would have never known that some of the credit was not applied. Unless this was presented last year at some point and I do not remember it.
Also, the section for explaining the credit is a bit confusing, but some lines are provided and I imagine it's worked out. Hopefully.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
wstankosky
New Member
larenaunruh
New Member
ajannereth-iclou
New Member
BB_0
New Member
MichaelEgan007
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.