Tax Form 8936

[branstone]

Why is it on the tax form it says maximum credit is $2,500 ?

http://www.irs.gov/pub/irs-pdf/f8936.pdf

 

[Khaihon]

That is the maximum credit for the "Business" portion of your return. The rest should appear in the personal portion of your tax return.

 

[miimura]

It is a little confusing. Even in Part III, you skip the $2,500 limit because of the instruction on line 15 that says "If the vehicle has at least four wheels, leave lines 16 and 17 blank and enter this amount on line 18 . . . ." which in our case would put the $7,500 credit amount on Line 18.

 

[smkettner]

Get Turbo-Tax. If car is used for business the credit may get reduced.

 

[branstone]

i figured it out i was just not reading and filling it out correctly.

thanks.

 

[aboxer]

I think this is probably a dumb question but.... If leasing and the dealer took the tax credit for purchasing the EV off the cost of the car, the only part of the EV credit that can be taken on our taxes is the expenses for putting in the charger at our home, right?