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TurboTax Energy Efficient tax credit?

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

  1. CharlesH

    CharlesH CA HOV Decal #5 on former PiP

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    The Plug-in credit is a credit against your total tax liability, but cannot exceed your tax liability. Note that this is your tax liability, not the refund/payment when filing your return. If most of your income is non-taxable, then there may be an issue.
     
  2. lensovet

    lensovet former BP Brigade 207

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    filed earlier today and already had both my state and federal returns accepted.
     
  3. waprius

    waprius Junior Member

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    From what I have researched on the IRS website, tax credits are only being offered to individuals or corporations that use an electric vehicle partly for business or for pleasure. What form exactly are you referring to as I have read form 3800 and 8936. Could be I'm just tired and need to review this in the morning hours. My apologies in advance.
     
  4. radiocycle

    radiocycle Active Member

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    OK, both of my returns were accepted (I e-filed with TT) and I am scheduled to receive a very nice check from the feds, and a little bit from CA. Very nice indeed!

    radio
     
  5. ny_rob

    ny_rob Senior Member

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    Form 8936. Department of the Treasury. Internal Revenue Service. Qualified Plug-in Electric Drive Motor Vehicle Credit.
    The PIP qualifies as it's advertised battery is >4kW (4.4 per Toyota specs).
     
  6. lensovet

    lensovet former BP Brigade 207

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    Rob already linked the form. The rules are just different for businesses but for personal use you can just claim the credit.
     
  7. rogerv

    rogerv Senior Member

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    My CPA simply split the credit based on the percentage of business use of the PiP. The credit still totals $2500, just a few more lines to fill in on the form to show that my business claimed part of it. Probably because of my Schedule C self employment, but my federal return took about a week longer (just a day short of two weeks) to be processed than others have reported here. I tracked it on the "where's my refund" site run by the IRS.
     
  8. waprius

    waprius Junior Member

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    Thanks ny_rob and lensovet! Looks like Form 8936 will take my "Owed" and turn it into a "Refund"! It didn't show up in the Tax Act Q&A, had to find the form and fill it out manually.
     
  9. ny_rob

    ny_rob Senior Member

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    That's great!
    TurboTax presented it as part of the Q&A session- couldn't be easier.
    Congrats on your refund!
     
  10. ny_rob

    ny_rob Senior Member

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    Hmmm... I e-filed on Sat March 9th with direct deposit option- still no refund yet.
    Doesn't it usually take about 10 days w/e-file and direct deposit?
     
  11. rogerv

    rogerv Senior Member

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    Have you checked "get refund status" yet? Mine took one day shy of two weeks to process and notify me of the refund deposit date. I thought it was because of my self employment, which was another form held up by the fiscal cliff. Maybe the PiP credit had something to do with it after all.
     
  12. ny_rob

    ny_rob Senior Member

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    Just checked... "Your tax return is still being processed."
     
  13. rogerv

    rogerv Senior Member

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    You will probably hear in the next day or so then, if they are still taking two weeks.
     
  14. lensovet

    lensovet former BP Brigade 207

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    Mine was accepted over the weekend. We'll see how long it takes to get the money.
    But yeah, if yours is still processing, you still got some time lol.
     
  15. ny_rob

    ny_rob Senior Member

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    Checked again a few min ago- still nothing.
    ... at least I can't spend it if I don't have it....:rolleyes:
     
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  16. ny_rob

    ny_rob Senior Member

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    Has anyone who e-filed and used the Form 8936 actually gotten their refund yet?
    Today makes 3 weeks since I e-filed (on 3/9) and it was accepted- my status on "where's my refund" still says "Your tax return is still being processed." :mad:
     
  17. SLOW_RR

    SLOW_RR Member

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    Yep! Got it yesterday in my checking account. They took one day over 3 weeks to tell me they had processed the return and give me the date I would receive the transfer. It was right on the money. I had a very large refund as I also put solar panels on the roof of my house this last year and my refund was in the total as well. I am quite relived to have it done with.

    Be patient and you will undoubtedly hear in the next day or so.
     
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  18. ny_rob

    ny_rob Senior Member

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    Thanks- tomorrow will be one day past 3 weeks!
    I need a new fence in my backyard and a tree removed- come on IRS- show me the money!!
     
  19. rogerv

    rogerv Senior Member

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    See my earlier post #31. Took 17 days from filing to funds deposited. But as more people filed, I'm guessing it might take a little longer.
     
  20. ny_rob

    ny_rob Senior Member

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    Ok just checked my status this morning- approved!

    But THEY DEDUCTED THE EXPECTED $2500 CREDIT FOR THE PIP! FROM MY REFUND :mad:
    They gave me a number to call M-F. I am soo pissed right now!!!!

    Just double checked the form 8936 I filed- no errors- even walked it out to the PIP to verify the VIN- all good. Checked again with TurboTax- no errors!

    Wth?


    When I call the IRS on Monday- I'm supposed to mention error code "9021".
    When I look up the error code 9021 on the notice I get:
    "9021" Reference Code for all math error conditions Analyze account and follow appropriate IRM