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dan84
New Member

Bought new Chevy Bolt EV on 3/11/20. According to Form 8936 should be eligible for 1875$ credit because it was prior to 4/1/2020. Why doesnt TurboTax give me this credit?

 
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4 Replies
HelenC12
Expert Alumni

Bought new Chevy Bolt EV on 3/11/20. According to Form 8936 should be eligible for 1875$ credit because it was prior to 4/1/2020. Why doesnt TurboTax give me this credit?

Depending on your liability and other tax credits you take, you may not see the full tax savings of the tentative credit you calculate on Form 8936. This is because the credit is a nonrefundable credit. Nonrefundable tax credits cannot reduce your tax bill below zero and also reduce your tax bill for a number of other credits taken before reducing the remaining tax bill for your plug-in electric motor vehicle credit.

 

 

 

To quickly get to the motor vehicle credit section to generate Form 8936:

  1. Type motor vehicle credit in the search bar.
  2. Click on the Jump to motor vehicle credit result. 
  3. Continue with the onscreen interview until complete.

A listing of qualifying vehicles can be found at the IRS website: IRC 30D New Qualified Plug-In Electric Drive Motor Vehicle Credit.

 

Source TurboTax Article

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Bought new Chevy Bolt EV on 3/11/20. According to Form 8936 should be eligible for 1875$ credit because it was prior to 4/1/2020. Why doesnt TurboTax give me this credit?

I have he same problem with a Chevy Bolt EV.  The form has 0% instead of 25% for a Bolt bought in January of 2020.  This is a program error.

AmyC
Expert Alumni

Bought new Chevy Bolt EV on 3/11/20. According to Form 8936 should be eligible for 1875$ credit because it was prior to 4/1/2020. Why doesnt TurboTax give me this credit?

Technical is working on the calculation issue for form 8936. Please see this article and sign up for notification.

 

Also, be sure you have your business use calculating correctly. See page 2, bottom right, for the calculation at Plug-in Electric Drive Vehicle Credit at a Glance.

 

[Edited 2/2/2021| 1:21 pm PST]

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Kvanhutton
Returning Member

Bought new Chevy Bolt EV on 3/11/20. According to Form 8936 should be eligible for 1875$ credit because it was prior to 4/1/2020. Why doesnt TurboTax give me this credit?

This appears to be resolved. I re-entered the info for my Bolt today and the credit was properly applied

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