Is form 8911 available for my 2022 taxes?

[emilylewis1168]

Hi, I bought an EV charger in 2022 for use at my home and meet all the criteria to file and benefit from the tax credit on form 8911. Is it available yet in TurboTax? I’m able to populate the information in the software but it yields $0 as the tax credit. I called TurboTax support to speak with an agent and they couldn’t figure it out either.

[JosephS1]

Forms availability shows it is available to print and efile.  If you have not run updates to the TurboTax software I suggest you do so and test it again.  I will attempt to duplicate your problem on my end and if the same happens on my end I will try to notify the problem to those that can solve it.

@emilylewis1168 

[emilylewis1168]

I’m using the online version so I don’t think I should have to run any updates, right? Is the tax credit under form 8911 subject to any income limitations? I was told this by the person who helped me (hence why the credit isn’t populating) and I find it doubtful.

[AbrahamT]

Buyers will have to have modified adjusted gross income (MAGI) of less than $300,000 for joint filers ($150,000 for single filers) to qualify for the credit.See HEREhttps://www.google.com/search?q=ev+tax+credit+subject+to+income+limitations&rlz=1C1GCEA_enUS1039US10...

[emilylewis1168]

That’s for the Electric Vehicle itself, not the charger. Re-read it.

[PattiF]

There are a couple of things that can cause the Alternative Fuel Vehicle Refueling Property Credit to be reduced to zero.

First, the credit is non-refundable and you must have a tax liability in order to take advantage of the credit.  Also, the calculation of possible Alternative Minimum Tax (AMT) is involved in the calculation of the credit and may reduce it to zero.  

There is a tentative minimum tax for AMT that is calculated in the background as your return is completed.  Form 8911 compares that tentative minimum tax to the net regular tax after certain other credits have been taken into account.  If the tentative minimum tax is greater than the net regular tax, then the Form 8911 credit is disallowed.  

Take a look at your Form 8911, lines 16, 17, and 18.  If line 17 is greater than line 16, then your personal credit for Form 8911 will be disallowed.  

@emilylewis1168 

[emilylewis1168]

I looked a little more into the AMT and that is likely why. Thank you for that.

[LindaS5247]

The Inflation Reduction Act of 2022 (IRA 2022) extended the alternative fuel vehicle refueling property credit to cover refueling property placed in service after 2021 and before 2033.

If you buy a battery-powered car and install new EVCSE at your main home to recharge its batteries, you may be able to trim your tax bill through the Alternative Fuel Vehicle Refueling Property Credit. The maximum credit is $1,000 or 30 percent of the installation cost, whichever is lower.

However, this credit is limited to your tax liability.  The Alternative Minimum Tax is also involved in the calculation.

Per Form 8911 a tentative minimum tax for Alternative Minimum Tax  that is calculated as your return is prepared. Form 8911 compares that "tentative minimum tax" to the "net regular tax" after certain other credits have been taken into account.  If the " tentative minimum tax" is greater than the "net regular tax", then the Form 8911 credit is disallowed.  

This is likely what happened.

Click here for Form 8911.
 

Click here for more information on the Alternative Fuel Vehicle Refueling Property Credit.