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Rao
New Member

When will turbo tax 2018 be updated to include the EV credit?

 
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2 Replies

When will turbo tax 2018 be updated to include the EV credit?

The energy efficient vehicle tax credit form is estimated to be available on 01/25/2019.  See this TurboTax support FAQ for IRS forms availability - https://ttlc.intuit.com/questions/1908854-irs-forms-availability-table-for-turbotax-individual-perso...

For an energy-efficient vehicle tax credit 

  • Click on Federal Taxes (Personal using Home & Business)
  • Click on Deductions and Credits
  • Click on I'll choose what I work on
  • Scroll down to Cars and Other Things You Own
  • On Energy-Efficient Vehicles, click the start or update button

Or enter energy efficient vehicle in the Search/Find box located in the upper right of the program screen.  Click on Jump to energy efficient vehicle

jg2439857
New Member

When will turbo tax 2018 be updated to include the EV credit?

I've been toying with the idea of getting an EV soon. For the heck of it, I put in that I paid 28k for a Leaf in 12/2018 just to see what the numbers would be. Now I'm not finished entering everything yet, but my current tax liability in the program is 4700 dollars (after 2 child credits, etc), meaning I should not qualify for anything near a full credit. I was thinking of leasing my upcoming EV because of this! Anyway I put in that I bought a 28000 EV, and it has 4 wheels, and it comes back with "congratulations you qualify for a $7500 credit!" and my refund proceeds to increase not 4700 but almost the full $7500...... So if you hover over the refund amount up top, it briefly (you have to keep moving your mouse over the refund area to get this to pop up since it disappears quickly) says my total (federal??) tax payments went up 2800 dollars (coincidentally 10% of my phantom purchase price, and my state sales tax is 6% BTW) and my tax owed went from 4750 to 240, meaning my refund went up not 4750, not 7500, but 7310. Does this strike anyone else as....odd??? Thanks!

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