Tax Credit

[ch33rio]

signed the binding purchase agreement in 2022. Picked up my truck on 5/12, immediately amended my return that evening via turbotax. got the check plus some interest earlier this week.

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[momoslomo]

signed the binding purchase agreement in 2022. Picked up my truck on 5/12, immediately amended my return that evening via turbotax. got the check plus some interest earlier this week.

Awesome! Thank you!

 

[PoundF00lish]

Hi all, I'm curious if anyone who has received the $7500 tax credit using their binding purchase agreement has a 2023 model? I'm curious because I signed a BPA in August 2022 and recently took possession of a 2023 model which isn't listed on the IRS's website of credit-eligible models: https://www.irs.gov/credits-deducti...d-clean-vehicles-purchased-in-2022-and-before


Wondering if any others claimed their credit with a 2023 model on Form 8936, or if others have had issues with the process despite the technicality. Thanks!

 

[EarlyAdptr]

Has anyone filed an amended return using TurboTax? If so, i'd be curious how to actually do that. Simple guidance would be appreciated!

- Scott

 

[RivianDeac]

signed the binding purchase agreement in 2022. Picked up my truck on 5/12, immediately amended my return that evening via turbotax. got the check plus some interest earlier this week.

My experience was almost identical.

 

[Autolycus]

signed the binding purchase agreement in 2022. Picked up my truck on 5/12, immediately amended my return that evening via turbotax. got the check plus some interest earlier this week.

My experience was almost identical.

Did y'all have 2022 or 2023 model year vehicles?

Has anyone filed an amended return using TurboTax? If so, i'd be curious how to actually do that. Simple guidance would be appreciated!

- Scott

When you open TurboTax, don't hit "Continue" or "Get Started" or whatever the big button says. Instead, look for a text link to amend a return. From there, you'll make the changes necessary for the EV credit (under deductions and credits), and then step through the filing process again. Before filing, make sure it has prepared a 1040X and an 8936.

 

[redantpile]

Has anyone filed an amended return using TurboTax? If so, i'd be curious how to actually do that. Simple guidance would be appreciated!

- Scott

I addition to the other stuff mentioned here, after starting the amendment, I had to search for the 8936 form to get to it. Might have been under the Help link where it starts a computer chat. Took a few minutes to find it. After that it guides you thru.

 

[EarlyAdptr]

Did y'all have 2022 or 2023 model year vehicles?



When you open TurboTax, don't hit "Continue" or "Get Started" or whatever the big button says. Instead, look for a text link to amend a return. From there, you'll make the changes necessary for the EV credit (under deductions and credits), and then step through the filing process again. Before filing, make sure it has prepared a 1040X and an 8936.

Thank you!!

 

[ch33rio]

Did y'all have 2022 or 2023 model year vehicles?

2023.

 

[Mathme]

Just completed mine in turbo tax. Spent quite a bit of time with their help service and came to the conclusion that you should enter 08/15/2022 for both the purchase and in service dates. Took a matter of minutes to complete the filing.

 

[RivianDeac]

2023 for me too

 

[md2023]

Hi all, I'm curious if anyone who has received the $7500 tax credit using their binding purchase agreement has a 2023 model? I'm curious because I signed a BPA in August 2022 and recently took possession of a 2023 model which isn't listed on the IRS's website of credit-eligible models: https://www.irs.gov/credits-deducti...d-clean-vehicles-purchased-in-2022-and-before


Wondering if any others claimed their credit with a 2023 model on Form 8936, or if others have had issues with the process despite the technicality. Thanks!

Yes. And received my check.

 

[Autolycus]

Just completed mine in turbo tax. Spent quite a bit of time with their help service and came to the conclusion that you should enter 08/15/2022 for both the purchase and in service dates. Took a matter of minutes to complete the filing.

TurboTax is clearly not set up well for the Form 8936 or the IRA's transition rule. There's only 1 date on the form itself, so TurboTax asking for 2 dates just confuses things if they're not then going to word the date questions in the correct way to make them relevant to the question at hand.

 

[Kiwi01]

I dont mean to hijack the thread ... quick question along these lines ... I have a BPA and hope to take delivery of R1S in September. Tax credits for 2022 will not be useable for me ... a rare occurrence. Could I disregard the BPA and just file for credits that would be available in 2023?

 

[Autolycus]

I dont mean to hijack the thread ... quick question along these lines ... I have a BPA and hope to take delivery of R1S in September. Tax credits for 2022 will not be useable for me ... a rare occurrence. Could I disregard the BPA and just file for credits that would be available in 2023?

Yep! The "transition rule" is a "may" not a "must" or "shall". You will, of course, only currently get $3750, but that's better than nothing if you're not eligible for any credits in 2022. (or if you're eligible for less than $3750 in 2022, really)

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