New 2023 EV Tax Credit

[dchintan]

The current Tax Refund estimate for 2023 in Turbo Tax does not include the Tax Credit for Electric Vehicles under the Inflation Reduction Act law passed this year. Do you plan to add it? Is there a way in Turbo Tax where we can estimate the Tax liability for 2023? 

[Paul_W1]

Hi dchintan,

Welcome to our event today.  In my understanding you have some questions about the EV credit and tax liability estimate for 2023. Turbo Tax will update the 2023 tax year software as we get IRS updates incorporated.  To help you with 2023 estimate, I have a wonderful link, https://turbotax.intuit.com/tax-tools/calculators/taxcaster/ which will help you to estimate 2023 taxes.  The tax calculator will ask you interview questions and based upon your replies, you will get a general idea about your tax situation for 2023.  Hope this is helpful.  Thank you for allowing me to assist you today.  Have a good day.