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Why is showing zero for my EV tax credit? It is a new 2023 Chevy Bolt and checks all the boxes for a $7,500 tax credit.

 
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2 Replies

Why is showing zero for my EV tax credit? It is a new 2023 Chevy Bolt and checks all the boxes for a $7,500 tax credit.

The Form 5695 Residential Energy Credits for tax year 2023 has not yet been finalized in TurboTax.

The Form 5695 is scheduled to be available in TurboTax on 02/07/2024 (subject to change).

Go to his TurboTax website for forms availability - https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product...

Why is showing zero for my EV tax credit? It is a new 2023 Chevy Bolt and checks all the boxes for a $7,500 tax credit.

You need the form 8936 ...which is not scheduled to be available until after 21 Feb....but that date can change in either direction.

Thus, the credit may not be right, until the final form gets installed in the software.

 

Check to see if it's updated on Fridays.

 

BUT...Make sure you've entered all your income first

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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