I have low-mileage credits from the previous year filing. Can I use those credits to pay HVUT for a single vehicle?
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Last modified 7/20/2020 8:38:51 AM EST
When you are filing a return for the current year, and have credits for vehicles from the previous year, you have to report the credit vehicles in your current year Form 2290. Since you have to report two vehicles, current year taxable vehicle and prior year credit vehicle, you must choose "e-file for multiple vehicles" while filing your Form 2290 return using ExpressTruckTax.
You can use your low-mileage credits to pay your HVUT for the current tax year if the tax credit is equal to or lower than the HVUT. If the tax credit of the prior year credit vehicle is more than the HVUT for the current tax year, you have to claim those remaining credits by filing Form 8849. Your Form 8849 will be auto-generated by us with the adjusted credit if required, once you file your Form 2290 return.