TurboTax Energy Efficient tax credit?

Discussion in 'Gen 1 Prius Plug-in 2012-2015' started by Ichiro, Feb 24, 2013.

  1. Ichiro

    Ichiro Member

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    Okay, I'm finally getting around to working on my taxes. I've entered my 2012 Plug-in Prius for the energy efficient vehicle tax credit. When I get to the final review portion, the Prius gets flagged because it was "Date purchased should be a date before 1/1/2010". Also, the "model year should be 2010".

    Obviously, the car is a model year 2012 and purchased in 2012. Anybody else run across this in their 1040?

    Edit - I'm using TurboTax Online.
     
  2. Biking Maniac

    Biking Maniac Five Prius – have not sold one yet!

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    I got the same FYI today on my federal review. I just ensured that I entered the correct date in 2012, the VIN, etc and re-ran the review and it went away.
     
  3. lensovet

    lensovet Not your typical youngin :)/BP Brigade 207

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    yes, because the form is still not available electronically, they are showing (and verifying against) an older form for earlier vehicles.
    you can't e-file until sometime in March because form 88whatever isn't available yet for submission. thus these bogus errors.
     
  4. Ichiro

    Ichiro Member

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    What makes you sure the form will be available in March? I'm willing to wait a few weeks in order to e-file.
     
  5. lensovet

    lensovet Not your typical youngin :)/BP Brigade 207

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  6. CharlesH

    CharlesH CA HOV Decal #5 on former PiP

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    My tax advisor was considering doing a paper filing to get around the IRS not being ready to accept the new Form 8936 electronically, but the buzz about this in his professional circle is that paper filing will just result in the form sitting in a box somewhere in the IRS until they are ready to process the form, and it is probably better to wait until they get their act together.
     
  7. heather somaini

    heather somaini Junior Member

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    I was advised to wait until March also when the IRS will have the right form ready. It's more about the IRS than anything else. There are a whole list of forms that they just don't have ready yet so all us "ear;y birds" are not getting our taxes done in February like we want to. :)
     
  8. lensovet

    lensovet Not your typical youngin :)/BP Brigade 207

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    Sounds about right. The only benefit to paper filing is if you've underpaid and want to reduce the penalty you're going to pay, because for the calculation, they use the postmark date.
     
  9. rogerv

    rogerv Senior Member

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    Since there seemed to be at least a couple of threads on the subject, please forgive my multiple posts. :p I was advised by my CPA this morning that the IRS has released Form 8936 and is accepting efiling of returns containing that form.
    TurboTax has not yet updated their program, AFAIK.
     
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  10. rogerv

    rogerv Senior Member

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    Update: Just got an email saying the IRS has accepted my return. Whoopee!
     
  11. ny_rob

    ny_rob Senior Member

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    That's great news- thanks!
    I was dreading paper filing after 10+ years of e-filing.
     
  12. timdsd

    timdsd Junior Member

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    That's a bug in TurboTax that Intuit has documented. I ran into the same problem, so I did a search for the error message within the TurboTax program, and the bug listing came up. Intuit promises a fix this week (at least I'm pretty sure they said this week). TurboTax let me put my email on their notification list, so hopefully I'll know when the fix is available.
     
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  13. Ichiro

    Ichiro Member

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    Anybody else using TurboTax Online? So far the bug is still in the Online version and still prevents me from e-filing because of form 8936 "errors".
     
  14. lensovet

    lensovet Not your typical youngin :)/BP Brigade 207

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    Try deleting and re-adding the car
     
  15. ny_rob

    ny_rob Senior Member

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    Just finished e-filing both Fed and NY state with TurboTax Deluxe 2012- no problems whatsoever with form 8936 entry and submission- showed up correctly as a $2500 credit :D

    I downloaded TurboTax last night from Amazon, ran the updates as soon as install finished, then ran the update this morning before making my first entry... smooth sailing the whole way through.

    Only thing I couldn't remember for form 8936 was the PIP's battery capacity- FWIW- it's 4.4kWh for the form entry.
     
  16. Ichiro

    Ichiro Member

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    Thanks, I did just that and was able to e-file finally.

    Nexus 4 ? 2
     
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  17. heather somaini

    heather somaini Junior Member

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    Me too!
     
  18. radiocycle

    radiocycle Active Member

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    Please excuse the dumb Q here, but I'm just now getting ready to use Turbo Tax on-line. I'd like to know if the 'tax credit' will benefit me any if I don't itemize. I'm retired and have under 35K a yr income from SS, retirement accounts, etc. so I usually just file the simple, non itemized form. Thanks,

    radio
     
  19. CaliforniaBear

    CaliforniaBear Clearwater Blue Metallic

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    Yes, it is a direct subtraction from your Tax shown on Line 44c on Form 1040. However, if your tax is less than the $2500 you only get credit for the amount that would take your tax down to zero.
     
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  20. radiocycle

    radiocycle Active Member

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    Thanks CB! Just what I needed to know,

    r
     
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