Hi everyone, I received my Tesla a few months back, and was curious to ask someone who has already filled out the IRS Form-8936. It seems like a simple form to fill out and submit through TurboTax, I was wondering if anyone had any issues getting the full refund? Anything I need to know before I submit my tax forms next year.
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Using TurboTax to receive tax credit?
- Thread starter Treasure
- Start date
Nope. We've never had to. I think we just answer the question about purchasing an electric car, enter the VIN, price, etc. and then it shows the credit applied.
Here are the instructions for the 2017 tax year. I'm sure they will be pretty similar when filing for 2018.
How do I apply for the federal ev tax credit using TurboTax? I p... - TurboTax Support
swaltner
Active Member
Yep, if you go through the guided interview process in TurboTax, it will prompt you about the pitcher of an electric vehicle. Easy to do.
Be aware that in past years, the initial distribution of TurboTax didn’t come with all forms. To complete this form, you had to wait for the final updates that arrive in early Feb. Since you don’t get all your other tax info until then, it’s not really a delay. For the 2013 tax year, I had to wait until late March 2014 to receive the tax form that would allow me to file electronically.
Not that it’s an issue for you, but also be aware that the prompts in TurboTax aren’t worded the best. If you skim and don’t read the instructions, you can get suckered into incorrectly claiming the tax credit when you purchase a used EV. Not something for your situation, but be aware that this is incorrect. The tax credit is only available to the first entity that puts the vehicle into service (purchases the vehicle).
Be aware that in past years, the initial distribution of TurboTax didn’t come with all forms. To complete this form, you had to wait for the final updates that arrive in early Feb. Since you don’t get all your other tax info until then, it’s not really a delay. For the 2013 tax year, I had to wait until late March 2014 to receive the tax form that would allow me to file electronically.
Not that it’s an issue for you, but also be aware that the prompts in TurboTax aren’t worded the best. If you skim and don’t read the instructions, you can get suckered into incorrectly claiming the tax credit when you purchase a used EV. Not something for your situation, but be aware that this is incorrect. The tax credit is only available to the first entity that puts the vehicle into service (purchases the vehicle).
Thanks for the info! I'll keep an eye out and read carefully, as I usually do when dealing with a good chunk of money
FYI,
Your tax forms are ready.
The wait is over! The tax forms we needed to finish up your taxes are
ready to go.
We're ready to walk you through:
Simply open TurboTax on your comptuer and it should update automatically.
Having trouble? Make sure you're connected to the internet, then select
Check for updates in your top TurboTax menu.
Thanks,
Intuit Team
Your tax forms are ready.
The wait is over! The tax forms we needed to finish up your taxes are
ready to go.
We're ready to walk you through:
- Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit
Simply open TurboTax on your comptuer and it should update automatically.
Having trouble? Make sure you're connected to the internet, then select
Check for updates in your top TurboTax menu.
Thanks,
Intuit Team
Yep! submitted successfully yesterday, also approved yesterday. Thanks so much!FYI,
Your tax forms are ready.
The wait is over! The tax forms we needed to finish up your taxes are
ready to go.
We're ready to walk you through:
- Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit
Simply open TurboTax on your comptuer and it should update automatically.
Having trouble? Make sure you're connected to the internet, then select
Check for updates in your top TurboTax menu.
Thanks,
Intuit Team
Leeclanual
Member
FYI,
Your tax forms are ready.
The wait is over! The tax forms we needed to finish up your taxes are
ready to go.
We're ready to walk you through:
- Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit
Simply open TurboTax on your comptuer and it should update automatically.
Having trouble? Make sure you're connected to the internet, then select
Check for updates in your top TurboTax menu.
Thanks,
Intuit Team
Thx for sharing
I usually wait until the last week of Tax Season to submit.
In case I've learned anything new (I've had companies occasionally release an updated W2 due to an error), a 1099 I forgot about arrives or a TurboTax software update etc.
But I'm tempted to submit now, while the Government is open for Business, especially where they owe me for a change.
The government opening was a good enough reason to take the risk for me
