Federal Income Tax Credit for EV Charging Equipment

Akikiki · Feb 12, 2014

Federal Income Tax Credit for EV Charging Equipment

Don't forget to take your "Federal Income Tax Credit for EV Charging Equipment". Technically it's called the Alternative Fuel Vehicle Refueling Property Credit and you use Form 8911

You earn a federal tax credit of 30% of the cost of installing EV charging equipment, such as the HPWC or NEMA outlet to charge your EV.

The ceiling is 30% of the cost up to a total credit of $1,000

This particular tax credit expired on 31 Dec 2013. If you didn't install and take the credit in '13 Tax year, you missed it.

Talk to your Tax guy/gal to get all the details.

StephenM · Feb 13, 2014

Thanks for this, Akikiki. It's about that time to file...

RandyS · Feb 13, 2014

I bought my car last year as well and Turbo Tax says I don't qualify for the charging equipment credit. In looking at the worksheet, there is a Tentative Minimum Tax calculation issue, and the $7500 credit for the car is part of those calculations...So no credit for me...

spleen · Feb 16, 2014

I think it's also subjected to AMT so if that applies to you, then you won't qualify.

Timothy · Mar 27, 2014

spleen said:
I think it's also subjected to AMT so if that applies to you, then you won't qualify.

I submitted the info to my accountant. I was able to receive the full $7500 Federal Tax Credit for the purchase of the car. I gave him the information for the 30% tax credit for the EVSE installation to put on Form 8911 and he filled it out. But somehow that is different than the vehicle credit--because, exactly as you say with the AMT, I don't qualify for this extra tax credit. :crying:

Akikiki · Mar 28, 2014

Happy for you and sad for you. Sorry you didn't get both. I guess that's the price of being "famous". Made enough to buy a Tesla and punished for making enough to buy a Tesla. :smile:

nanimac · Mar 28, 2014

Our CPA said we'll have to pay taxes next year if we don't have any fancy tax credits. Told her i'll just get another Tesla to get the EV tax credit :tongue:

Akikiki · Mar 28, 2014

Sounds like a great plan. Pick out what you want (P85+ in Blue). Wait for it to arrive and hand the fob to Lady Tesla over to your husband. Having one he can drive every day will be the nudge he needs to sell his ICE. And your work is done.

nanimac · Mar 28, 2014

Akikiki said:
Sounds like a great plan. Pick out what you want (P85+ in Blue). Wait for it to arrive and hand the fob to Lady Tesla over to your husband. Having one he can drive every day will be the nudge he needs to sell his ICE. And your work is done.

LOL..He's actually waiting to see the Model X..but that wouldn't help our taxes for this year..

Zroiron · Mar 28, 2014

I wish that Congress would get to work and reinstate the credit for those of us who bought the HPWC in 2014,

Akikiki · Mar 28, 2014

nanimac said:
LOL..He's actually waiting to see the Model X..but that wouldn't help our taxes for this year..

Hmm, did you have a different plan for dealing with the same problem in '15?

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Federal Income Tax Credit for EV Charging Equipment

Akikiki

A'-Lo-HA ! y'all

StephenM

Active Member

RandyS

Fan of Elon

spleen

Active Member

Timothy

Driving on Sunshine

Akikiki

A'-Lo-HA ! y'all

nanimac

Aloha!

Akikiki

A'-Lo-HA ! y'all

nanimac

Aloha!

Zroiron

Poodle Pack Leader

Akikiki

A'-Lo-HA ! y'all

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