bariiings
Member
Just doing some tax planning for the new Roadster and the referral program.
Assuming I get to 55 referrals (100% off) before they change the terms of the referral program, I just checked with my tax guy, and assuming everything else stays the same between now and 2020 (tax code, income, deductions, world war III, etc), and assuming Tesla sends out 1099s for the FMV of the base Roadster ($200,000), and that they do not gross-up the award to pay the taxes (highly unlikely, but welcome), my combined state and federal taxes for the award would be just over $80k for a "free car".
Better start saving up those "tax losses" now.
If you use TurboTax, try adding a $200k 1099-misc and see what happens.
are you going to provide test drives for people that helped you get to your 55 referrals?