Fillable IRS Form 8936 (2019)

What Is Form 8936 2019

Form 8936 for 2019, also recognized as the Qualified Plug-in Electric Drive Motor Vehicle Credit form, is a document provided by the Internal Revenue Service (IRS) that taxpayers use to figure out the amount of credit they're eligible for when they purchase a qualified electric vehicle. This credit is a part of the government's initiative to encourage the adoption of environmentally friendly transportation solutions by providing financial incentives for electric and plug-in hybrid vehicle purchases.

When to Use Form 8936 For 2019

Form 8936 is essential in several situations to ensure you get the credit you're entitled to. Here are specific scenarios when it becomes pertinent:

• If you've bought or leased a new vehicle powered by electricity from a battery with at least 4-kilowatt hours of capacity, it can be recharged from an external source.
• The vehicle must be used primarily within the United States and should be for personal or business use.
• The credit is only available for the original use of the vehicle, meaning the vehicle wasn't used before you bought or leased it.
• Only vehicles listed on the IRS’s qualified electric vehicle list for the tax year 2019 are eligible.

How To Fill Out IRS Form 8936 Instructions 2019

Part I: Figure Your Tentative Credit

• Start by ensuring your vehicle qualifies. A vehicle purchased in 2019 must be a new plug-in electric drive motor vehicle.
• Enter the date you placed the vehicle in service. This is usually the date of purchase.
• Input the total cost of the vehicle, not including taxes and fees.
• Follow the instructions on the form to calculate your tentative credit based on the vehicle's battery capacity and weight.

Part II: Limitations Adjustments

• Define the percentage of the vehicle's use for business versus personal purposes.
• Determine if AMT applies to you. If it does, this may limit your credit.
• The credit cannot exceed your tax liability. Use this section to calculate the allowable credit based on your tax situation.

Part III: Claim Your Credit

• Enter the allowed credit from Part II on your Form 1040 or other applicable forms as instructed.
• If you also have credits from other forms, you might need to fill out Form 3800 (General Business Credit).

Final Steps: 

• Review the entire form to ensure all information is accurate. Sign and date if required, then attach Form 8936 to your tax return.

When to File IRS Form 8936 2019

The filing of IRS Form 8936 2019 is synchronized with your annual tax return. It is essential to file this form alongside your tax return for the year you placed the qualified vehicle in service. Specifically, suppose you purchased a qualified electric vehicle in 2019. In that case, you should attach Form 8936 to your tax return when filing it before the deadline, typically April 15 of the following year, unless an extension is requested or applicable deadlines have been adjusted.

Ensuring the proper completion and timely filing of Form 8936 for 2019 can significantly impact your tax liability by reducing it through the credit for qualifying electric vehicle purchases. Always keep documentation related to your vehicle's purchase and the filling of this form for future reference and tax audit purposes.