Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProConnect Tax
- :
- ProConnect Tax Discussions
- :
- Re: Clean Vehicle Credit - Corporation - Please help!
Clean Vehicle Credit - Corporation - Please help!
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
mattgutz
Level 3
10-15-2024
08:13 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I have a client that purchased a Rivian in 2022 (prior to August 15, 2022) and took delivery in 2023. The vehicle is eligible for the Clean Vehicle Credit. I can not get the $7,500 credit to come through on the 2023 Form 1120!
What am I missing?
Thank you in advance!!
1 Comment 1
qbteachmt
Level 15
10-15-2024
12:38 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
You might be spanning too many years?
"If you entered a written binding contract to buy a vehicle after December 31, 2021, and before August 16, 2022, but took delivery on or after August 16, 2022, you may elect to claim the credit based on the prior rules. To elect the credit under the prior rules you must elect the credit on your 2022 tax return after you take delivery of the vehicle. Depending on the date the vehicle is delivered, you can claim the credit on your original, superseding, or amended 2022 tax return."
The following rule is:
"If you purchased a vehicle between August 16, 2022 and December 31, 2022 but don't take delivery of the vehicle until 2023..."
*******************************
Don't yell at us; we're volunteers
Don't yell at us; we're volunteers
