TaxPandaCPA
Level 4

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

Hope it helps. Thank you in advance for marking mine as your "BEST answer"!
0 Cheers
Terry53029
Level 15
Level 15

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

0 Cheers