New Tax Credit for Charging Stations

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Flyct

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Has anyone seen this http://www.pluginamerica.org/drivers-seat/happy-ev-legislative-new-year

It seems that a 30% tax credit was passed up to $1000 ESEV, residential charging stations hardware plus installation for installed stations in 2015 and 2016.

Merry Christmas.
 
It's not new but a renewal of previous similar tax credits. I took advantage of this in 2013. I could swear it was not renewed for 2014 but there is a form 8911 for 2014 that shows you could take the credit.

Either way, I'm glad it has been extended.
 
RonDawg said:
It's not new but a renewal of previous similar tax credits. I took advantage of this in 2013. I could swear it was not renewed for 2014 but there is a form 8911 for 2014 that shows you could take the credit.

Either way, I'm glad it has been extended.

It was retroactively renewed for 2014 around the end of the year.
 
Thanks for the heads up! Does anyone know how this works with state incentives? I.e if the state (Maryland) kicks in 50%, can I still apply for this for another 30% off the total cost? Or is it just 30% of what was not covered under state incentives?
 
I think it's on top of any other incentives, but I'm not sure.

On a related note, the 10% (up to $2500) tax credit for two and three wheeled EVs has also returned, and the charging equipment credit applies to things like external motorcycle chargers and even the Zero "Charge Tank" as well. I just bought a 2015 Zero SR (demo) and if my year goes well I may buy a Charge Tank later on...
 
RonDawg said:
Evoforce said:
What if I put in 2 charging stations?

I am not a tax expert, but I don't see why not. The credit itself is capped at $1k anyway.


The problem is, I have been going to tax preparers and probably not tax experts. If I don't first somehow find out what I am entitled to claim, they don't have a clue about a lot of these types of things. H&R
 
Evoforce said:
RonDawg said:
Evoforce said:
What if I put in 2 charging stations?

I am not a tax expert, but I don't see why not. The credit itself is capped at $1k anyway.


The problem is, I have been going to tax preparers and probably not tax experts. If I don't first somehow find out what I am entitled to claim, they don't have a clue about a lot of these types of things. H&R

While I have a never used degree in accounting, I am not a tax expert. I don't see any limitation on how many stations you can claim credit for BUT there is a limitation that they must be installed in your main home. If you have more than one EV and want to install multiple Stations at home I t appears you're good to go.

Reading the IRS documents it states "The credit for all property placed in service at your main home is generally the smaller of 30% of the properties cost or $1,000"

Nowhere does it state a single station. They just need to be in your "main home
 
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