Used EV Tax Credit Issues

[dogememe]

Issue 1: TurboTax

I've always used TurboTax and I got my W2 today so I tried it and I ran into an issue. When I go to the Clean Vehicle thing and select pre-owned it only shows model years 2017-2024.

That doesn't make any sense. Used has to be at least two years old. And according to https://www.fueleconomy.gov/feg/taxused.shtml the 2015 Chevy Volt I purchased in 2023 was eligible. So the model year options in TurboTax for used cars should be 2011-2022. Not 2017-2024.

I contacted their support via chat and they said to wait until January 29th to see if there is an update, but if there is not, I have to file manually. That's ridiculous. Has anyone else found a tax software that accepts 2015 EVs?

Issue 2: The Dealer

Despite the tax credit being a selling point of the used car and the dealer telling me about it, they did not give me anything for the IRS, so I assumed the paperwork from buying the car would have the info I needed. However, there is mention of a specific form the dealer was supposed to give me. Is it too late to get that now in 2024? Or should I go to the dealer and request that?

 

[zzyzzx]

Did you check the TubroTax forums?

 

[dogememe]

Did you check the TubroTax forums?

I didn't find anything, I did make a post there just now. Hopefully they fix it. I really like to use TurboTax although it's a ripoff it's just so easy.

 

[dogememe]

Re: Issue with Used EV Tax Credit in TurboTax Online

TurboTax will have an update with many 2023 forms released on January 24th. Here is a link to the form availability. Please return again after the 24th and you will be able to enter your 2015 Chevy Volt which does qualify for the Used Vehicle Credit and complete your return.

ttlc.intuit.com

Seems like I need to wait a few more days to resolve that.

In the meantime, what do I do about the fact that the dealer didn't give me anything related to the IRS? On the Bolt I just bought they gave me the IRS form when I bought the car but the Volt in 2023 they didn't give me anything like that.

 

[tbm5690]

According to the website's list of vehicles, only 2017-2021 Bolts qualify for the credit. I think your dealer misinformed you.

 

[Rand]

wait so you bought the car last year and already sold it but get a tax credit on it?

Can people sell EV's back and forth for tax credits?

Edit: only from dealers.. do alot of politicians own car dealers?

Qualified Vehicles and Sales​

To qualify, a vehicle must meet all of these requirements:

• Have a sale price of $25,000 or less. Sale price includes all dealer-imposed costs or fees not required by law. It doesn't include costs or fees required by law, such as taxes or title and registration fees.
• Have a model year at least 2 years earlier than the calendar year when you buy it. For example, a vehicle purchased in 2023 would need a model year of 2021 or older.
• Not have already been transferred after August 16, 2022, to a qualified buyer.
• Have a gross vehicle weight rating of less than 14,000 pounds
• Be an eligible FCV or plug-in EV with a battery capacity of least 7 kilowatt hours
• Be for use primarily in the United States

 

[dogememe]

According to the website's list of vehicles, only 2017-2021 Bolts qualify for the credit. I think your dealer misinformed you.

Last year I bought 2015 Volt with a V. This year I bought 2017 Bolt with a B. Two different cars. 2015 Volt is eligible. The tax credit issue is for the Volt, as in 2023 the tax credit is done when you file your taxes. On the Bolt I already got the tax credit at the point of sale as they changed that in 2024.

 

[Rand]

I thought you couldnt get a used EV tax credit more than once every 3 years?
Does that mean you have to pay back the bolt tax credit?

 

[dogememe]

I thought you couldnt get a used EV tax credit more than once every 3 years?
Does that mean you have to pay back the bolt tax credit?

OMG I didn't notice that. Wow. Thanks. I will not claim Volt credit. You just saved me a big hassle.

 

[Rand]

OMG I didn't notice that. Wow. Thanks. I will not claim Volt credit. You just saved me a big hassle.

I'm a noob at this trust but verify all advice

 

[dogememe]

I'm a noob at this trust but verify all advice

No, you're right, I totally missed it. Whoops. But it's OK. I still love my Bolt haha.