Yeah, maybe there's a bug. I would play around with income numbers to see if it affects which credits (and for how much) get applied. That's how I usually go about trying to understand these things. It might be a pain, but sometimes you could also check if you get the same numbers with another software.
Can't claim both EV tax credit and home charger install on taxes (because of Child Tax Credits)?
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Refundable amount of CTC is capped at $1500 this year.
I believe the IRS has always calculated a Refundable tax credit first to make sure folks get the full refundable amount as Congress intended. After that the non-refundable tax credits can be applied to any remaining tax liability.
I was able to apply with my 2021 taxes if you are talking about the California program they are very helpful. You can call them and they will answer questions.
Yeah, we wouldn’t qualify cause we filed jointly for 2021…. Made too much money. This year we were filing MFS… so we will fall under the income limit. But have to file first and request they use our 2022 return. Just gonna squeak in under the 3 month window by less than a month.
I just ran into the same thing. Also thought maybe it was a turbotax issue so ran my numbers through freetaxusa and got the same thing. On freetaxusa though I could see the form and how it was filled out. Turns out though I do not qualify for AMT there is a thing called "tentative minimum tax". I have credits for a solar system, the ID4 and thought the ev home charger. I don't get the charger credit. I am still paying thousands in taxes after the credits, so don't really understand it, but after searching that term, realize I am not the only one in that situation.
I think I just verified that TurboTax is doing it right with Form 8911 on Line 15b. It includes 1040 Line 19 in the caculation, which includes child tax credits. So, it seems like the Charger tax credit is only applied if you have tax liability AFTER you have already taken the child tax credits. This is unlike the EV tax credit or the Home Energy credits. I don't know why, but it is treated differently. This means, if you have kids and don't have a huge tax liability, best to install your charger the year before you actually buy your EV if you want the credit.
Line 15b
Follow the instructions below and refer to your income tax return to figure the amount to enter on line 15b.
Form 1040, 1040-SR, or 1040-NR.
Enter the total of any credits on Form 1040, 1040-SR, or 1040-NR, line 19, and Schedule 3 (Form 1040), lines 2 through 5, and 7 (reduced by any general business credit reported on line 6a, any credit for prior year minimum tax reported on line 6b, or any credit to holders of tax credit bonds reported on line 6k).
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So this is a bit concerning - Understanding our tax situations will be different, I also have solar credit, EV credit and the charger credit to claim. Haven't started plugging in my numbers - have to do that asap and see how it goes
I was able to apply the full $7500 EV credit after claiming the child tax credits on my youngins. But it also wouldn’t let me apply the EV charger credit after that. I was assuming I didn’t have enough tax liability, but I’m still waiting on all my forms so I’ll keep trying.
Edit: I just checked and my taxes paid minus refund still leaves $2000 in remaining taxes so I should still have plenty of liability. I’m also no tax expert so 🤷♂️.
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Edit: I just checked and my taxes paid minus refund still leaves $2000 in remaining taxes so I should still have plenty of liability. I’m also no tax expert so 🤷♂️.
Sigh. This smells eerily similar to the nonsense I went through last year with H&R software and the form 8911 that never materialized electronically. I ended up having to print and submit on paper, which took forever to process. Refund hit my account in September. Hopeful this isn't that!![Font Screenshot Number Document Terrestrial plant]()
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UGH - just plugged in my numbers and it's giving me $0 for the charger. Hopefully it's just a form issue 🤷♂️
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Had a similar situation last year with one of the forms related to COVID distributions (forget the form number). The form wasn't available until late March I believe
Edit to add: Did a quick search of the Turbotax Support site and it looks like this has come up every year (at least for the last 2 tax years) and it looks like the resolution for most folks has been either no tax liability/not enough tax liability or the AMT/tentative minimum tax - not giving hope but let's see if it's an actual form is not available issue
Has anyone else gotten the credit this year on the current Turbotax versions or other tax software or with your CPA?
Last year after manually entering the form 8911 numbers in the appropriate box on the 1040, my refund decreased!
I edited in a (-) where I'm pretty sure one didn't belong, saw the refund amount charge in my favor, printed and mailed.
Sort of unbelievable as this credit (and form) wasn't new last year.
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And I have the interesting situation where I bought and installed the charger last year anticipating an on-time arrival of my car. I still don't have my car. So technically I shouldn't claim the charger credit because I didn't put it into use for my own car in the same calendar year. Sigh.
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There is all kinds of shady stuff going on with Turbo Tax. Technically Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit isnt available until 02/02/2023 but when you enter your information, you are granted the credit. However for Form 8911 the credit shows as $0 (I am assuming some AMT shenanigancs going on here). There is another form I need that is not available - completing that form should result in a reduction of my refund but after plugging in the numbers, there is no reduction. That form wont be available until mid Feb.
Found this Federal Forms availability link if interested: Federal Individual Forms Availability
Found this Federal Forms availability link if interested: Federal Individual Forms Availability
It looks like Form 8936 is available on IRS website as Jan 24th. Updated now for 2023.
But Turbo Tax is taking it's sweet time and it now says filing will be available on 2/09/23. I'm kinda under the gun because I need to file before Feb 27th to qualify for the $2K CA state rebate due to income restrictions that change when i file 2022 taxes vs. 2021. So hopefully that 02/09/23 update is the final delay. I might try HR block and see if they have their act together with the forms.
No I gotta a complicated situation.. filed married jointly in 2021, so our joint income would be over the $200K limit and disqualify us for the credit. But filing married separately in 2022, which puts my spouse under the limit, bought vehicle knowing this in their name. But need to file before 3 months are up after purchasing the car due to 3 month clean air act filing deadline.
All kinds of fun hurdles and deadlines to meet.. they make you work hard for those rebates.. and hope most people don't pay attention or forget. The wealthy get all kinds of tax breaks and pay expensive tax people to handle it. Us middle/upper middle class folks gotta do it ourselves.
Spent the weekend working on my taxes with Turbotax. It does look like you can run into a limit regarding the home charger credit.
In my case, it was due to purchasing two EVs in 2022 for a $15k credit. I would have gotten the home charger credit (only $1k) if I had only purchased one EV.
YMMV.
In my case, it was due to purchasing two EVs in 2022 for a $15k credit. I would have gotten the home charger credit (only $1k) if I had only purchased one EV.
YMMV.
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