EVSE Tax Credit?

[JPC2822]

Hi Everyone.
Could you please tell me if the cost of the city permit (I paid $110) for my AV unit will be included in my tax credit?
Thanks!

Happy Holidays and Happy LEAF New YEAR!

 

[smkettner]

Hi Everyone.
Could you please tell me if the cost of the city permit (I paid $110) for my AV unit will be included in my tax credit?
Thanks!

Happy Holidays and Happy LEAF New YEAR!

All costs directly associated with the install should be included. Including the permit.
So get any paint and patch done also.

 

[EVDRIVER]

Robbing banks is done thousands of times a year too, and mostly without a permit.

Is your point above that you encourage others to do things illegally?

It seems that you frequently encourage others to do illegal things, perhaps because you and others have gotten away with it?

Gary, you are an alarmist and especially for a person who will likely not install an EVSE in 20111 and will not get a Leaf, you scare people with nonsense like an EVSE may have 300 volts running through it and could damage the car. Second, it is not Illegal to do something without a permit but it MAY be against a local city code, it is not against the law like robbing a bank which is an idiotic comparison. Who has ever been arrested for not getting a permit? I work in this industry and work with inspectors on a weekly basis and there are plenty of ways to install an EVSe without all the BS some are going through and there are simpler ways to get permits. If one already has an outlet there is no point in pulling a permit if you KNOW what you are doing or have someone that does. On one thread you suggested someone plug an EVSE into two outlets, is that "legal"? I know it's a permit violation for sure. I SF if you move an outlet one inch it needs a permit, do you think 95% of the people of electrical contractors pull a permit for that? It may be against the rules but the permit process has gotten out of hand in some areas. Gary, the next time you don;t come to a FULL and complete stop let us know, because that is against the law, more so than not having a UL sticker or permit to instal a 240 outlet 6 inches from a breaker panel.

The sky is still not Falling, I just checked.

 

[garygid]

Yes, you are right.
Thanks.

 

[JPC2822]

Hello all.
My AV was installed at my house December 2010. I went to my tax man today- he supposedly had my taxes done or finished. He did not because he does not know about the AV charging station tax rebate. I had already found the tax document and he has it already (my tax man has it-he does not know if I qualify for the tax rebate). My tax man said he is not sure if I will get the 50% tax rebate because he says it may only be applicable for business purposes. Anyone know anything about this? Any suggestions?

THANK YOU!

 

[Glenn]

Hello all.
My AV was installed at my house December 2010. I went to my tax man today- he supposedly had my taxes done or finished. He did not because he does not know about the AV charging station tax rebate. I had already found the tax document and he has it already (my tax man has it-he does not know if I qualify for the tax rebate). My tax man said he is not sure if I will get the 50% tax rebate because he says it may only be applicable for business purposes. Anyone know anything about this? Any suggestions?

THANK YOU!

With all due respect, JPC, it sounds like you need a new tax man. What you're talking about is a tax credit, not a rebate. And, unless I've been mislead all this time, it is very much an individual, NOT a business, credit. I am not an accountant or a "tax man" but I did stay in a Holiday Inn Express once.

Glenn

 

[evnow]

The credit is available for both individuals & businesses. Businesses just get a bigger limit ...

 

[Glenn]

The credit is available for both individuals & businesses. Businesses just get a bigger limit ...

thanks EV, I meant to say not JUST a business credit...

 

[TimeHorse]

Hello all.
My AV was installed at my house December 2010. I went to my tax man today- he supposedly had my taxes done or finished. He did not because he does not know about the AV charging station tax rebate. I had already found the tax document and he has it already (my tax man has it-he does not know if I qualify for the tax rebate). My tax man said he is not sure if I will get the 50% tax rebate because he says it may only be applicable for business purposes. Anyone know anything about this? Any suggestions?

THANK YOU!

Tell your accountant to read my blog entry: The EVSE Tax Credit a.k.a. The Alternative Fuel Vehicle Refueling Property Credit

 

[guywithleaf]

Just to confirm what another "amateur" poster noted: The EVSE tax credit is NOT available to those who fall within the AMT (alternative minimum tax), form 8911 or not. So even having to pay $1 in AMT disqualifies you from any amount of tax credit. My CPA just confirmed this when I asked why I wasn't seeing the credit on my tax credit. So those who are thinking of purchasing may want to rethink the purchase option and try the lease or some other option. Fortunately I only lost up to half of the $2451 I paid to AV; I'm exploring other options for the Leaf itself.

 

[TimeHorse]

Just to confirm what another "amateur" poster noted: The EVSE tax credit is NOT available to those who fall within the AMT (alternative minimum tax), form 8911 or not. So even having to pay $1 in AMT disqualifies you from any amount of tax credit. My CPA just confirmed this when I asked why I wasn't seeing the credit on my tax credit. So those who are thinking of purchasing may want to rethink the purchase option and try the lease or some other option. Fortunately I only lost up to half of the $2451 I paid to AV; I'm exploring other options for the Leaf itself.

Your credit is the lesser of the 3:

1. Half the value (50%) of what you spent on the EVSE
2. $2000.00
3. The positive difference computed by (regular taxes after most credits have been applied) - (your total taxes under AMT without any credits); if this value is $0 or negative, you get no EVSE credit.

 

[LEAFer]

... I'm exploring other options for the Leaf itself.

The "Leaf itself" ($7,500 tax credit) should *not* be affected by AMT ... only limited to the lesser of $7,500 or your total tax liability (regular or AMT amount). At least that's my (non-tax-expert) understanding of it.

 

[TimeHorse]

... I'm exploring other options for the Leaf itself.

The "Leaf itself" ($7,500 tax credit) should *not* be affected by AMT ... only limited to the lesser of $7,500 or your total tax liability (regular or AMT amount). At least that's my (non-tax-expert) understanding of it.

The EV Credit (applied via form 8936) is part of the credits subtracted from your regular tax when you compute regular taxes after most credits have been applied. This means, you must have a difference of at least $9500 between regular tax with all credits besides the EV credit to also claim all of the EVSE credit. As I didn't buy an EV in 2010, this doesn't apply to me but it no doubt applies to many people who bought the LEAF or Chevy Volt in November or December 2010 and also installed the EVSE the same year.

Now, as for form 8936, line 11 asks for your total tax burden after AMT has been added to it. Therefore you get to claim this credit regardless of AMT. The only restriction on this credit is if this credit, plus the other AMT-agnostic credits, sum to a value greater than your overall tax burden, you can't take more credit than that overall burden (at least not due to buying an EV).

These credits are as follows:

• Credit for taxes paid to another nation (Foreign Taxes Paid; which, BTW, is the one credit that doesn't enter into the EVSE calculation at all)
• Credit for child and dependent care expenses. Attach Form 2441. (Form 1040, Line 48; Form 1040NR, Line 46)
• Education credits from Form 8863, line 23. (Form 1040, Line 49)
• Retirement savings contributions credit. Attach Form 8880. This the sum of your Traditional and Roth IRA contributions. (Form 1040, Line 50; Form 1040NR, Line 47)
• Residential energy credits. Attach Form 5695. This includes all energy efficiency home improvement credits including additional insulation, more efficient exterior windows and better-insulating exterior doors or heat-reducing exterior roofing, as well as Photovoltaic panels, a solar thermal water heater, wind power generators or a geothermal heat pump. (Form 1040, Line 52; Form 1040NR, Line 49)
• Qualified Plug-in Electric and Electric Vehicle Credit. This is for originally built 2- or 3-wheeled vehicles or city-cars limited to low speeds purchased in the tax year. (Form 8834)
• Alternative Motor Vehicle Credit. This credit is for alternative motor vehicles and plug-in electric vehicle conversions; it's not for cars originally built as plug-in hybrid electric or purely electric vehicles. (Form 8910)
• Credit for the Elderly or the Disabled. (Schedule R)

In other words, as we already knew, you can't have negative tax no matter how many credits you claim. Also, it seems the EV Tax Credit allows up to 3 vehicles in 1 year, meaning a total of up to $22,500 potential in tax credits if you could afford to buy a LEAF, Volt, what, the Focus, all in the same year? Well, if you were that rich, I suppose just throw in the Tesla Roadster as the third car!