Fed Tax Credit Form 8936

Discussion in 'Honda' started by Cali65, Jan 14, 2019.

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  1. Alex0913

    Alex0913 Member

    I got an email from Turbo tax saying the form is ready.
     
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  3. Ram1234

    Ram1234 New Member

    IMG_4104.JPG available on TurboTax now.


    Sent from my iPhone using Inside EVs
     
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  4. LegoZ

    LegoZ Active Member

    I wonder if the residential renewable energy credits are ready now. I still need to enter your interest income and the TCEQ grant And I think I’ll be ready. I don’t think they will retroactively renew the EVSE Credit again unfortunately.
     
  5. Alex0913

    Alex0913 Member

    Are you guys filing with Turbo tax or any other software? First time filing my taxes online and I am bit nervous to mess something up.
     
  6. LegoZ

    LegoZ Active Member

    I’m using TurboTax have been for 10 years now. Last few years have been the desktop version
     
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  8. lanb

    lanb Active Member

    I use H&R block software but any tax software should be fine and do the job.
     

  9. will anything change with the tax credit in the near future?
     
  10. DucRider

    DucRider Well-Known Member

    Maybe
     
  11. Unlikely for there to be a change unless both senate races go to the Ds and they decide to play hardball on Senate rules. Otherwise, the current law should continue, and Honda is well below the cutoff threshold.
     
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  13. JimOKeefe

    JimOKeefe New Member

    Just confirming that the $7500 Fed Tax Credit is still in effect for 2021. I'm asking because the 2021 8936 form states the Max is $2500- perhaps I've reading ti wrong.
     
  14. petteyg359

    petteyg359 Well-Known Member

    You're reading it wrong.

    "If the vehicle has at least four wheels, leave lines 7 through 10 blank and go to line 11"

    "For vehicles with four or more wheels, enter the amount from line 6. If the vehicle is a two-wheeled vehicle, enter the smaller of line 9 or line 10"

    "For vehicles acquired after 12/31/2009, the credit is equal to $2,500 plus, for a vehicle which draws propulsion energy from a battery with at least 5 kilowatt hours of capacity, $417, plus an additional $417 for each kilowatt hour of battery capacity in excess of 5 kilowatt hours. The total amount of the credit allowed for a vehicle is limited to $7,500."
     
  15. JimOKeefe

    JimOKeefe New Member

    Thanks for the explanation. If I understand, Clarity is 17 KW, the credit would be 17 * $417= $7089 + 417 = $7506 (rounded to $7500)
     
  16. petteyg359

    petteyg359 Well-Known Member

    2500
    + 417 for 5 kWh
    + 417 x 12 for 17 kWh (12 more than 5)
    7921
     
  17. DucRider

    DucRider Well-Known Member

  18. petteyg359

    petteyg359 Well-Known Member

    That is what I already posted. I was correcting his/her/its math.
     
    Last edited: Jan 24, 2021

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