Thank you for your question. My name is XXXXX XXXXX I would like to help you today
According to form 8936, which is used to take the qualified plug in electric vehicle credit,
carried back or forward to other tax years
So, you would not be able to carry back the credit or elect to carry forward the credit
If your tax liability is below the credit, you lose it
You can get a link to the tax form I referenced, HERE
I do not agree. What it says on the form is that you can't carry back the credit beyond the first year the credit was available. But you can carry it forward. I wanted to know if you could simply elect to carry forward. I do not see anywhere on the form where you are limited only to the tax liability in the year of the credit.
Which form are you looking at - I am looking at form 8936
So am I
On page 4, Line 23 it reads "If you cannot use part of the personal portion of the credit
Actually, you have to go to Form 3800 where the credit must flow.
Okay so this is a business credit, not a personal credit correct?
It flows through an S corp.
Okay then if you wanted to elect carry forward, you would just attach a statement electing to carry forward
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