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IRS tax form for Tesla credit NOT AVAILABLE until Feb 11 Form 8936

Discussion in 'Off Topic' started by Electricfan, Jan 24, 2016.

  1. Electricfan

    Electricfan Member

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    :cursing:

    Tried to do my taxes this weekend since I want my $7500.00 credit, and also I'm nervous because of the rumors of stolen credits I heard last year.

    But the IRS is dragging its feet on the tax credit form, Form 8936 and you CAN'T file your return yet! Makes me very unhappy!

    TurboTax says the form is supposed to be ready Feb 11.

    Crap!!!
     
  2. Pinarello

    Pinarello Member

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    I'm in the same situation. Completed my tax return, but the IRS won't let me electronically file because Form 8936 hasn't been finalized. Will have to wait until mid-February. ;(
     
  3. cpa

    cpa Member

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    How do you think I feel? Many forms are not finalized yet. Some forms are finalized, but the instructions are still undergoing IRS review. This wait will doubtless be easier and shorter than the wait during the time between ordering and receipt of your Tesla! :smile:

    Anyway, don't concern yourself too much about the "stolen credits." While I cannot deny that they did not happen, I really do not think that you need to worry!
     
  4. Max*

    Max* Autopilot != Autonomous

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    This is the first year where I had all my paperwork to do my taxes ready by mid-January, and bam, Turbotax tells me that Schedule E isn't available (they have it now) and EV tax credit 8936 isn't available yet.
     
  5. KarmenElectric

    KarmenElectric New Member

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    When filing, do you need anything other than Form 8936? I thought I remember being given a document during delivery that I had to provide as proof of purchase during the tax year. Is it called a Manufacturer's certification?
     
  6. ddimit

    ddimit Member

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    I think you just need it if the IRS denies your credit. My Tax person was good with the Bill of sale and VIN Info. Like everyone else we are waiting as well. Everything is done sans the form before we can sign and submit
     
  7. Tourman

    Tourman Member

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    I was able to do my taxes and had no issues claiming the credit. My federal return was already accepted.
     
  8. Electricfan

    Electricfan Member

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    Sweet! Where on the form did you put the 7500 dollar credit? Can you provide any specifics?
     
  9. A330FO

    A330FO Member

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    I too have completed that portion of my taxes and it also reflected the $7,500 credit (using TurboTax).
     
  10. Tourman

    Tourman Member

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    I am not sure; I use H&R Block online. It asks if you purchased an EV, and let's you manually enter a dollar amount for credit. You only need to enter your VIN. I got the full $7500 credit, and my return was accepted within a few minutes of filing.
     
  11. Electricfan

    Electricfan Member

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    But you haven't filed, right? Because after reading your post, I re-visited my Turbotax return and it still tells me I can't file yet because the form isn't yet available. Still says it won't be ready until Feb 11.

    - - - Updated - - -

    Awesome! I'd say you're ok then. But, did you print it out? I always print out a hard-copy, cause that's how I roll I guess. But if you printed it, did it have form 8936? Or where did it list the 7500? I guess its not important, I'm just curious.
     
  12. Max*

    Max* Autopilot != Autonomous

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    Just tried TurboTax, Form 8936 is only going to be available in a week. I'm not sure how the person filed through TurboTax...

    It's the only form that's not yet available... Forms Availability Table for TurboTax Federal - TurboTax Support

    - - - Updated - - -

    Form 8936 is available from the IRS, it's just TurboTax that's being slow https://www.irs.gov/pub/irs-pdf/f8936.pdf
     
  13. miemrich

    miemrich Member

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    I have a LLC with 2 equal share partners. The LLC purchases the vehicle for one partner to use 100% for business. Does the LLC get the tax credit and can it be transferred (through the K-1) to the 1040 of the partner who uses the vehicle? Who has to file form 8936? The LLC or the partner?

    Thank you for some assistance.
     
  14. DougH

    DougH Active Member

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    I have been waiting since Jan 19th to submit my taxes via TurboTax. They say that the Federal Electric Car form is not ready, not until Feb 11th :confused:
     
  15. cpa

    cpa Member

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    1. Partnerships and LLCs taxed as partnerships do not pay income taxes. They file a "return of income."

    2. All items of income, loss, deduction and credit flow through to the partners pursuant to their partnership agreement. This information is reported to each individual partner on his/her schedule K-1.

    3. Accordingly, the partnership itself files the 8936, and quite likely a 3800 because this credit is from a business asset. The tax treatment is going to be different on the 1040 because of this.

    Seriously, this area is more complicated for a business asset; more so for a business asset coming out of a flow-through entity. I strongly suggest that your firm engage a competent professional to review your returns at the least--maybe even prepare them just this once. I have no qualms that everybody here wants to get their income taxes done correctly, only paying the Goldilocks amount of tax--not too much, not too little, but just the right amount. However, the law is not always identical for personal versus business situations, whether Schedule C/E/F, a partnership, an S Corporation, a C Corporation or even a fiduciary. Good luck!
     
  16. ddimit

    ddimit Member

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    if you look at that form its from 2014 not 2015,

    2015 is still showing as draft here... https://www.irs.gov/pub/irs-dft/f8936--dft.pdf

    Turboxtax is projecting 2/11 date as release. I check the IRS site daily to see if its out yet
     
  17. Max*

    Max* Autopilot != Autonomous

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    How do you know it's 2014? It says 2015 at the top...
     
  18. cpa

    cpa Member

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    My software now has the form

    My software package is the Supercharged version of Turbo Tax. My latest update now includes the form; so it is available for filing this morning.

    Good luck to all who are champing at the bit to file your returns.
     
  19. Electricfan

    Electricfan Member

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    I just checked and TurboTax still tells me the form is not available until 2/11/16.

    I have now filed with H&R Block. Why does H&R Block work, but TurboTax won't? Very interesting.

    H&R Block RULES!!!

    Will never file with TurboTax again!
     
  20. Max*

    Max* Autopilot != Autonomous

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    Thanks cpa, though the regular turbotax still doesn't have it.

    I'd rather wait a few days for my refund than transfer all my taxes to HR or another provider...
     

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