What date will the IRS Form 8936 for the Qualified Plug-in Electric Drive Motor Vehicle Credit be ready to submit on Turbotax?

[cat45ends]

why is the IRS form 8936 not ready yet on Turbotax?

[SteamTrain]

They are ready in the software, when the IRS approves the software company's version of that form....and that happens days to weeks after the IRS finalizes that form themselves.

_________________________________

This indicates 10 Feb...or the day after if they update it sometime that day:

https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

[ashock34]

Hi. Thanks for the update. I purchased a Toyota Prime Plug in January of 2022, and it has a listed tax credit of 4502.00. I am not familiar with the 8936 forms, but I am thinking this form is to be submitted at the end of 2022 along with your 1040 for that year and is not to be submitted any sooner. 

     Toyota will soon reach its 200,000 EV/Plug in limit for a full tax credit and will begin to phase the tax credit out. My question is since I purchased my plug in on 1/10/22 will I be in line for the full tax credit specified above vs. other folks who purchased their vehicles later in the year after the 200,000 limit was reached? Thanks for any input you or the community can provide. Avery

[SteamTrain]

Correct. The form 8936 will have a date put in service that you will enter into the 2022 tax software next spring, along with the VIN and other information.....that will ID the quarter you bought it.

The Credit doesn't actually drop immediately once the 200,000 vehicle limit is reached......there is another 2 quarters that the full credit is available for  people who purchase later....then it starts dropping.

Federal tax credits will soon be phased out for Toyota EV customers in the US - Electrek