electric vehicle credit on form 1120S

Forum|Forum|1 year ago
February 11, 2025
1 reply
3 views

How do you report electric vehicle credit on form 1120S? There is no form 8936 that you can use to enter the data from Form 15400 from the dealer such as the purchase price, amount, date of purchase, model of vehicle and the amount of credit.

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qbteachmt

Level 15

Here's a help article:

https://accountants.intuit.com/support/en-us/help-article/federal-taxes/filing-form-8936-calculating-plug-electric-drive/L6FFLVn6j_US_en_US?srsltid=AfmBOoqlF2Amj1d17voz2z271dKD1bzepeRIbwEaf0vXph76DQtwvfir&uid=m725uiqj

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R

ramras_8Author

Level 3

It looks like this reply applies only to individual return and not to pass -through entities such as partnerships and S-corporations. Form 8936 does not exist in business returns. Is it because the tax program for S-Corp does not support Form 8936?

sjrcpa

Level 15

It is probably because S Corps don't get the credit. The info for claiming the credit is passed through as separately stated items on the K-1.

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