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How do I get ev credit for rivian r1s which I was put into service in 2023. The software is limiting service date as 2022

Forum|Forum|3 years ago
April 16, 2023
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TurboTax Online

Best answer by Mike9241

you're misinterpreting what's on the webpage. the credit is taken on the 2023 return. that's why Turbotax will not allow your entries.

The amount of the credit depends on when you placed the vehicle in service (took delivery), regardless of purchase date.

According to the instructions given by the IRS, a taxpayer a may not claim the credit before they take possession of the vehicle. If a taxpayer does not take physical of a qualified vehicle by December 31, 2022, the EV tax credit cannot be taken until tax year 2023.

https://www.irs.gov/pub/taxpros/fs-2023-08.pdf

see the answer to question 5

P

PattiF

If you signed a binding order agreement before August 16, 2022, and took delivery in 2023, you are eligible for the credit. Enter August 15, 2022, as the date placed on service when filling out your information for Form 8936.

From Rivian

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V

vishwas82Author

I missed signing that, so I file it next year?

KrisD15

If you had a binding contract to purchase the vehicle between 12-31-21 and 8-16-2022 but took delivery in 2023, you may claim the credit on the 2022 tax return or on your 2023 return.

In your situation, you may amend your 2022 return and claim the credit, or claim the credit on your 2023 tax year return.

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