Level 1

Question

Query: Availability of Form 8936 for S Corporations and Partnerships in ProSeries

Forum|Forum|2 years ago
March 4, 2024
2 replies
19 views

Dear Members,

I hope this message finds you well.

I have a query regarding the availability of Form 8936 for S Corporations and Partnerships in ProSeries tax software. As per regulations, businesses are eligible to claim the Commercial Clean Vehicle Credit by filing Form 8936. However, I have noticed that this form is currently unavailable for S Corporations and Partnerships in ProSeries.

I would like to inquire if anyone has information on when this form will be made available in ProSeries for S Corporations and Partnerships. Alternatively, if anyone knows of any alternative methods to access or file Form 8936 for these entity types, your insights would be greatly appreciated.

Thank you in advance for your assistance and insights.

Best regards,

Vrajesh Shah, CPA

ProSeries Professional

ERIC J 11

Level 4

i HAVE THE SAME QUESTION - FORM 8936 FOR S CORPORATION TO CLAIM EV CREDIT. I SEE THIS QUESTION WAS INITIALLY POSTED MARCH 4. I CAN'T BELIEVE THERE IS NO ANSWER YET????? WE CANNOT BE THE ONLY 2 PUZZLED WHY PROSERIES IS NOT OFFERING WHAT THE IRS IS MANDATING FOR A VERY COMMON TAX CREDIT. HELLO ANYONE??? PLEASE HELP.

IRonMaN

Level 15

What is common for some isn’t common for everyone. I haven’t had a need for the form.

Slava Ukraini!

ERIC J 11

Level 4

Thank you for reading but a non-reply to my post would have added more value and been a more productive use of everyone's time.

I think EVs are very common today and growing in popularity, so I stand by my inference that Form 8936 is a common form. We should expect and deserve all common forms to be easily accessible in Proseries.

As for the work around, It was not too much extra effort to complete the fill in Forms 8936 and 8936A and attach to the E-File. I also added a Misc Statement to the return alerting IRS to the attachment submitted and included the key data from the 8936. I input the credit directly on Sch K of 1120S with the tag for the New Clean Vehicle credit and the E-File was accepted.

T

Terry53029

Intuit Community Champion

From 8936 instructions. "if their only source for this credit is a partnership or S corporation. Instead, they can report this credit directly on line 1y in Part III of Form 3800, General Business Credit."

M

Moine

Level 3

I also read the publication it clearly says the individual-level income limit is 300K. if nothing helps me, I will remove credit from line 15.

But now the question is the basis of the assets, since none of the partners received credit because of the high income may I amend the partnership tax return and remove the credit? Or fill out form 3115

Please advise me and again thank you for your time.

M

Moine

Level 3

Client filed a partnership tax return, and now they realize their income is over 300k, can I amend the partnership tax return remove $ 7500 credit & increase the purchase price of the car.

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