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How to apply $7500 from 8936 brought TeslaY

EllaQCPA
Level 3

Client brought a Tesla Y met all requirement for IRS 7500 tax credit tax year 2023. 

How to apply payment to the 7500 credit in Proconnect?

 

Filing Tax Form 8936: Qualified Plug-in Electric Drive Motor Vehicle Credit

CPA Master of Accounting
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1 Comment 1
Terry53029
Level 14
Level 14

If bought in 2023 there are income phase outs, and it is a non refundable credit

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