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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- General business credit (ADA credit) and Electric vehicle credit 2023
General business credit (ADA credit) and Electric vehicle credit 2023
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mickey
Level 4
04-06-2024
07:31 PM
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A client has $5000 Disabled Access credit coming in to her personal tax returns via S Corp K-1 (line 13 item K).
She also purchased a Tesla that qualifies for the $7500 credit.
Prior to generating the form for the Tesla credit, Proseries allowed the client to take the $5000 ADA credit. However, after I filled out form 8936 to take the credit for the EV, the program removed the $5000 ADA credit.
I don't believe she can take both. Furthermore, I think she can carry forward the $5K ADA credit.
I would like to cite a source or writing somewhere that says you can't take both credits and the ADA can be carried forward. From what I've seen at the Intuit website you may carryforward the ADA using form 8826 for next year, i.e. 2024.
Does anyone have any source or know of this?
Thank you
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