Question

In 2018 TT did not reduce line 22 on form 8801 by my $7,500 Electric Car Credit. Is this right?

Forum|Forum|7 years ago
June 6, 2019
1 reply
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In 2018 I'm taking a $7,500 credit on form 8936. This transferred to line 54(c) on schedule 3. Turbo Tax did not reduce line 22 on form 8801 for this credit amount and as a consequence calculated an AMT credit carryover utilization in 2018. This appears contrary to the IRS instructions. Who is right?

TurboTax Deluxe Online

T

TerryA

Employee

Hey, you're right! Thanks for bringing this to our attention! I'll try to reply back when we learn when the fix will be released.

I don't think you'll be able to e-file if you override the 8801 line 22 to input the correct value.

K

kittykicker

I think I'm encountering a similar issue. I expected to receive a $7500 tax credit for an electric vehicle purchase, but my total tax liability decreased by only $2900. When I remove the electric vehicle form from TurboTax, the credit for prior year AMT reappears. I gather from the original question that you can claim only one of these credits (correct?). And that I will be able to apply the credit for prior-year AMT to next year's return?