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New Member
posted Feb 20, 2020 1:13:01 PM

Tesla Credit being calcuated incorrect in new 02/20 release

I bought my Tesla M3 in April 2019, based on Tesla phase out Federal tax credit I should get the tax credit of 3750. The software only calcuates value of 1875. This isnt correct. For Tesla cars bought between Jan-19 and June-19 the credit is 3750, and from July-19 till Dec-19 it is 1875. Please have this resolved.

 

https://www.tesla.com/blog/what-you-need-know-about-federal-ev-tax-credit-phase-out

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5 Replies
Expert Alumni
Feb 20, 2020 1:48:54 PM

Please try these steps to recalculate the credit after today's update:

 

To remove the form from your tax return, follow these steps:

  1. Login to your TurboTax account at TurboTax.com.
  2. Click on Tools in the menu on the left-hand side of the screen (Note: if you do not see Tools first click on Continue where I left off or Take me to my return).
  3. Click on Tax Tools.
  4. Click on Tools.
  5. When the Tools Center opens, click Delete a form.
  6. Scroll down the list of forms and click delete beside  Form 8936.
  7. Confirm on the next screen by clicking Delete Form.

After you delete the form, start the credit section over, and it will calculate correctly.  

 

 

Level 2
Feb 22, 2020 9:10:37 PM

I had the same problem today. I was able to fix it by changing the name from Tesla to "Tesla" under vehicle make (note the quotes). It changed my credit from $1875 to $3750. I didn't delete the form, so that could've been why I still saw the issue.

 

TT team - it mentions this in the help text popup, but it's not intuitive for people to add the quotes.

New Member
Feb 23, 2020 8:34:14 PM

Yep, after deleting the form, same error in refund came up until I tried "Tesla". Surprised the program is still broke. I had my State and Federal rejected due to this software glitch

Expert Alumni
Feb 24, 2020 8:29:24 AM

Please see this excellent article with TurboTax Expert JotikaT2 and TurboTax Expert AnnetteB3 explaining how to enter these details for the EV Credit.

Level 2
Feb 27, 2020 11:57:17 PM

@ jsmithjr732 It works like a charm and cost me an hour to find your answer. Much appreciated! Luckily TT didn't make it even more difficult to decode.