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TaxPandaCPA
Level 4
March 24, 2024
Question

How to apply $7500 from 8936 brought TeslaY

  • March 24, 2024
  • 1 reply
  • 7 views

Client brought a Tesla Y met all requirement for IRS 7500 tax credit tax year 2023. 

How to apply payment to the 7500 credit in Proconnect?

 

Filing Tax Form 8936: Qualified Plug-in Electric Drive Motor Vehicle Credit

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    1 reply

    Intuit Community Champion
    March 24, 2024

    If bought in 2023 there are income phase outs, and it is a non refundable credit