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tommac
New Member

TurboTax Premier Incorrectly reporting I am ineligible for the EV Tax Credit

While working on my taxes, TurboTax Premier is reporting that I am ineligible for the EV Tax Credit, as my Modified AGI is above $300,000 (married, filing jointly). However, in fiscal year 2022, it was below the $300,000 threshold, as imported by TurboTax. If you refer to the "Who Qualifies" guidance from the IRS, at Credits for new clean vehicles purchased in 2023 or after | Internal Revenue Service (irs.gov), you will see you only need meet the threshold in one of the two years, whichever has the lower Modified AGI. 

 

Quoting from the page:

 

You can use your modified AGI from the year you take delivery of the vehicle or the year before, whichever is less. If your modified AGI is below the threshold in 1 of the two years, you can claim the credit.

 

Similar info is also available from Publication 5866, New Clean Vehicle Tax Credit Checklist.

 

Please advise on how to address this issue. 

 

#defect #bug #software #issue

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1 Reply
tommac
New Member

TurboTax Premier Incorrectly reporting I am ineligible for the EV Tax Credit

Ignore the question. Apparently I was insufficiently caffeinated, and misread the prompts...

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