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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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.
That's what I thought.
Thank you for your reply.
Sylvia
SE taxes contribute to the 1040 taxes.
1040 Credits contribute to the 1040 taxes. Not to changing SE.
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