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Credit of $7500 for plug in electric car

sshuter2015
Level 2

Why am I not seeing my total tax liability reduced by $7500 even though it shows on form 8936 my car qualifies for the full credit amount? Does it only affect my federal income tax liability and not the self employment tax?

Shouldn't it reduce my total tax liability by $7500?

 

Thanks for your help,

Sylvia.

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5 Comments 5
BobKamman
Level 15



You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.

Just-Lisa-Now-
Level 15
Level 15
LOOK at the return and follow the money.
It only reduces income taxes, SE taxes will not be reduced.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
sshuter2015
Level 2

I am a tax preparer and I'm asking this question for my client who suppose to get the full $7500

credit for his plug-in electric car. 

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sshuter2015
Level 2

That's what I thought. 

Thank you for your reply.

Sylvia

qbteachmt
Level 15

SE taxes contribute to the 1040 taxes.

1040 Credits contribute to the 1040 taxes. Not to changing SE.

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