Entering corporate Qualified Plug-in Electric Drive Motor Vehicle Credit information in Lacerte

This article will assist you with entering information related to the Qualified Plug-in Electric Drive Motor Vehicle Credit in the Corporate module of Lacerte.

New for Form 8936 for tax year 2024:

• For vehicles placed in service after December 31, 2023, the seller must file the seller report through the IRS Energy Credits Online (ECO) portal.
• Transfer of new clean vehicle credit. For vehicles placed in service after 2023, you may be able to transfer the credit amount to the dealer. See the IRS instructions for more information. If you elect to transfer the credit, you must file Form 8936 and Schedule A (Form 8936) with your return for the tax year in which the vehicle was placed in service.

Follow these steps to enter information about the Qualified Plug-in Electric Drive Motor Vehicle Credit :

Starting in tax year 2023

1. Go to Screen 28.1, General Business Credits.
2. Locate the Clean Vehicle Credit (8936) section.
3. Begin by entering the Part I: Vehicle Details: Year (e.g. 2023), Make, Model, Vehicle identification number (VIN), __ and Date placed in service.
4. Continue by answering the questions presented in order, one at a time.
5. If at any point the answer selected says to Go to the next question, Go to Part II, Go to Part IV, or Go to Part V, follow these directions on the input screen until you complete the input and generate the form, or until you see Stop here which indicates the vehicle doesn't qualify for a credit. 
6. Any applicable credit will flow to the 3800.

For tax year 2022 and earlier

1. Go to Screen 28, General Business Credits.
2. Select  Clean Vehicle Credit (8936) from the left Sections list.
3. Enter the applicable information in the Vehicle information, date placed in service, Kilowatt hour capacity, phaseout and business use (Ctrl+E) field.
4. Enter an override for the credit amount in the Qualified plug-in electric drive motor vehicle credit [O] field, if applicable.