Anyone filed taxes for the $7500 tax credit yet?

[sprocopio]

Just found this blurb on the IRS site. Says that there are "Known limitations" to the form.....Pretty crummy if we are being held up from filing our return if we only have one qualifying vehicle.....

Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit:
This form will only support one qualifying vehicle. If you are trying to claim more than one qualifying vehicle, you will not be able to use this form and e-file your return. -

Source link : List of Available Free File Fillable Forms | Internal Revenue Service

 

[ItsNotAboutTheMoney]

Just found this blurb on the IRS site. Says that there are "Known limitations" to the form.....Pretty crummy if we are being held up from filing our return if we only have one qualifying vehicle.....

Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit:
This form will only support one qualifying vehicle. If you are trying to claim more than one qualifying vehicle, you will not be able to use this form and e-file your return. -

Source link : List of Available Free File Fillable Forms | Internal Revenue Service

That limitation specifically applies to if you're using the Free File Fillable Forms system. That's available if you earn too much to use the Free File versions of tax company software. (It was created "in partnership with the tax industry". That's code for "as a bribe".)

 

[DarkMatter]

The tax preparation industry has repeatedly tried to make it more complicated to file taxes. That's a rant for another thread, though.

Seriously, if you need to file, just do it with the draft form. Many of us have had it accepted with no issue. I did not even know it was draft until coming here, as it's part of the tax prep site I used already.

 

[arcus]

Source link : List of Available Free File Fillable Forms | Internal Revenue Service

That list also shows the form 8936 will be available on March 1st - so to answer the original question we all have to hurry up and wait till then. I have opted in for email notificaiton from TT when the form becomes available. No big deal.

 

[bakerboy]

We also did our taxes over the past weekend using TT, it also "flagged" me to wait until form 8936 is ready. I purchased my 2013 MS back in April of 2017, I thought the $7500 tax credit was only good for "new" EV car purchases? Did something change?

 

[MYB_S90D]

If that happened I'm surprised the IRS wouldn't have switched you over for the next year to being a confirmed identity theft victim. Once signed up, the IRS will mail you a pin number that has to be subsequently used when filing your taxes.

This happened to us too. Two years ago the first time. Last year the IRS sent us a PIN, but their server got hacked as did the PIN numbers, so it happened again and we didn't get our refund until August. This year, with a new (more secure?) PIN and a new Model S, we e-filed over the weekend (with HR Block) and apparently got the the tax credit. The IRS approved it (whatever that means). I don't want to wait any longer, hoping to avoid someone using my SS# to file a false claim again. Now waiting for the refund.

 

[dbldwn02]

We also did our taxes over the past weekend using TT, it also "flagged" me to wait until form 8936 is ready. I purchased my 2013 MS back in April of 2017, I thought the $7500 tax credit was only good for "new" EV car purchases? Did something change?

No tax incentive for used vehicle purchases. Is there a way to tell TT that your car isn't an EV?

 

[bakerboy]

That's what I thought, a little history:

My car was originally registered in NJ, so technically my MS was never registered in CA, i dont think that makes a difference because of this:

EV tax credits cannot be passed on. Only the original registered owner of an eligible vehicle can claim the federal tax credit. Even if the original registered owner didn't apply for the credit for some reason, it cannot be passed along to a subsequent buyer.

I'm wondering why it even popped up in my return, has anyone filed w/ TT that purchased a used EV and have the same thing happen to them? Does your return get the option to file the 8936?

I would think, the TT software would catch that my vehicle was purchased new and not even allow me to claim it????

 

[boonedocks]

That's what I thought, a little history:

My car was originally registered in NJ, so technically my MS was never registered in CA, i dont think that makes a difference because of this:

EV tax credits cannot be passed on. Only the original registered owner of an eligible vehicle can claim the federal tax credit. Even if the original registered owner didn't apply for the credit for some reason, it cannot be passed along to a subsequent buyer.

I'm wondering why it even popped up in my return, has anyone filed w/ TT that purchased a used EV and have the same thing happen to them? Does your return get the option to file the 8936?

I would think, the TT software would catch that my vehicle was purchased new and not even allow me to claim it????

It will probably make you wait....fill out the form....and say it isn’t necessary and you’ll have waisted weeks. TT did that to me last year in something completely unrelated to EV. Made me sooooo mad

 

[Ken7]

It will be interesting if the folks filing with H&R Block get their taxes bounced back or not. 2017 Form 8936 is NOT available yet and wont be for a couple of weeks according to the IRS.gov web site:

Form 8936

Qualified Plug-in Electric Drive Motor Vehicle Credit - Known Limitations

3/1/2018


Keep us up to date as to whether you get IRS confirmation or bounce back please. I have been a LONG time TurboTax user but if I could get a months jump on my refunds I would certainly consider changing next year.

I'm a bit confused by this IRS statement: "This form will only support one qualifying vehicle. If you are trying to claim more than one qualifying vehicle, you will not be able to use this form and e-file your return.".

Huh? All the previous forms enabled you to enter two vehicles. This year that's just what we did, we bought 2 qualifying vehicles, both enabling a $7,500 deduction. So I wonder what gives here?

 

[bakerboy]

It will probably make you wait....fill out the form....and say it isn’t necessary and you’ll have waisted weeks. TT did that to me last year in something completely unrelated to EV. Made me sooooo mad

Ok, I'm just gonna remove the form and try to send our return in.

 

[bharned3]

It looks like if you buy used you can't claim this rebate. Is this true?

 

[boonedocks]

It looks like if you buy used you can't claim this rebate. Is this true?

This is true. Only the original owner may claim it and it may only be claimed once, Even with leases you are not the owner so you can’t take the write off in that case either.

 

[kutkuzak]

This is true. Only the original owner may claim it and it may only be claimed once, Even with leases you are not the owner so you can’t take the write off in that case either.

Well, yes, and no.. with leases, the auto company gets the credit. Tesla pockets it. Nissan credits it directly on the lease - as if you put $7500 down. (pet peeve)

 

[PhaseWhite]

We also did our taxes over the past weekend using TT, it also "flagged" me to wait until form 8936 is ready. I purchased my 2013 MS back in April of 2017, I thought the $7500 tax credit was only good for "new" EV car purchases? Did something change?

You can go to the tools section and remove that form. That should remove the wait requirement so you can file. If not contact their support team.

 

[boonedocks]

Looks like I might be jumping over to H&R Block software. The IRS has now revised the availability date for Form 8936 to 03/15/2018. Almost another month at this point. Since TT won't use a photo shopped version and H&R Block is somehow making an unavailable form available, I am going to purchase the H&R Block software and re-enter my taxes today. 2 - $7,500 credits this year and I am not going to wait until 3-15, and possibly another delay, and then be in the backwash of returns waiting on mine.

 

[newcarhappy]

Looks like I might be jumping over to H&R Block software. The IRS has now revised the availability date for Form 8936 to 03/15/2018. Almost another month at this point. Since TT won't use a photo shopped version and H&R Block is somehow making an unavailable form available, I am going to purchase the H&R Block software and re-enter my taxes today. 2 - $7,500 credits this year and I am not going to wait until 3-15, and possibly another delay, and then be in the backwash of returns waiting on mine.

Do we know if the IRS is refunding the tax credit when filed through H&R Block? I agree it frustrating to see the date move constantly, with no guarantee that it will not drag until mid-April.

 

[appleguru]

Looks like I might be jumping over to H&R Block software. The IRS has now revised the availability date for Form 8936 to 03/15/2018. Almost another month at this point. Since TT won't use a photo shopped version and H&R Block is somehow making an unavailable form available, I am going to purchase the H&R Block software and re-enter my taxes today. 2 - $7,500 credits this year and I am not going to wait until 3-15, and possibly another delay, and then be in the backwash of returns waiting on mine.

In the same boat. This is getting ridiculous. Pretty sure HR block is free for me too (if I agree to give capital one my return info...).

*shrug*

Does anyone know if I can move *this* years taxes to HR from TT without re-entering everything? Does HR block import from wealthfront and robinhood? (The two most obnoxious to manually enter...)

 

[appleguru]

Do we know if the IRS is refunding the tax credit when filed through H&R Block? I agree it frustrating to see the date move constantly, with no guarantee that it will not drag until mid-April.

Multiple reports here say they are. It is ridiculous that this form in particular is delayed; we all know exactly how much we get back from this form already. So even if they change it, the numbers won’t change (unless I missed something from the latest tax reform?)... so really not sure what the holdup is other than perhaps them trying to hold onto the cash a few weeks longer...

 

[dbldwn02]

Do we know if the IRS is refunding the tax credit when filed through H&R Block? I agree it frustrating to see the date move constantly, with no guarantee that it will not drag until mid-April.

I filed with HR software a couple weeks ago. "Where's my refund" says it's approved and will be sent tomorrow. I claimed one EV tax credit and a bunch of college expenses. Other than those two credits, everything else was pretty standard. YMMV