2019 EV tax credit forms not available?

Discussion in 'General' started by NocEdit, Jan 16, 2020.

  1. NocEdit

    NocEdit Member

    The energy-efficient vehicles section isn't ready yet.

    That’s the message I got when I went to file my taxes on turbo tax. Has this happened in prior years? Or is the IRS just behind this year?


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  2. DucRider

    DucRider Well-Known Member

    Last year the IRS finalized/released 8936 on 1/28. Not sure when it became available in TT, but likely a week or two later.
     
  3. S L .

    S L . Member

    Does anyone know which section in turbo tax the ev charger credit is in?


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  4. DucRider

    DucRider Well-Known Member

    Domenick likes this.
  5. S L .

    S L . Member

    Thanks, i know the form number and it’s not yet ready. Do you know the section in turbo tax this is under?


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  6. DucRider

    DucRider Well-Known Member

    No, but you can go to forms view and find it.
     
  7. S L .

    S L . Member

    It does not show up in turbo tax, hence the question on this forum.


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  8. DucRider

    DucRider Well-Known Member

    Just loaded TT, and they don't have the draft version installed yet (sometimes they do, sometimes not).
    You'll just have to wait until the IRS finalizes and releases the form before filing. Or file now and do an amended return once the form is released. Along the same lines - anyone that bought/installed an EVSE in 2018 will be able to amend their 2018 return to get the 30% credit (if it is worth it to them).
     
  9. davidtm

    davidtm Active Member

    Update:

    Just been working on my taxes, and was stymied by the EVSE tax credit (Form 8911) coming up with a credit of $0 for me. I clearly have the tax liability needed to get the credit.

    After some online searching (and ultimately verified by TurboTax assistants), I learned that the calculation for AMT (Alternative minimum Tax) resulted in a negative figure (probably due to the $7500 credit for purchasing my EV) as described below, even though the AMT is not applied to my return(!). So, I'm out the $300 or so credit I might've received.

    Here's a portion of the online discussion (https://ttlc.intuit.com/community/t...-for-chargers-installed-from-2018/00/1117222#):

    The Alternative Minimum Tax (AMT) is the likely culprit for many customers seeing their Form 8911 credit being $0. AMT is a part of the calculation for the credit claimed on Form 8911, whether your particular tax return is subject to AMT or not.

    There is a tentative minimum tax for AMT that is calculated in the background as your return is completed. Form 8911 compares that tentative minimum tax to the net regular tax after certain other credits have been taken into account. If the tentative minimum tax is greater than the net regular tax, then the Form 8911 credit is disallowed.

    Unfortunately, the instructions for Form 8911 do not specifically spell this out so that it can be better understood or explained.

    For your reference, here is a link to the instructions for Form 8911: Instructions for Form 8911
    I was certainly disappointed, but the $7500 credit was intact, and definitely worth this loss of another $300 credit.

    Hope this helps someone else!
     
  10. BlueKonaEV

    BlueKonaEV Well-Known Member

    I got my refund already.. Got a total of $9600 refund, including the $7500 tax credit.. I didn't do my own taxes as I also have a LLC and my accountant does both, my business and personal taxes.
     

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