raylev wrote:I have read every post on this thread, and am still confused as to the full value of the $7500 credit. The two 2009 IRS forms I have each mention a credit of UP TO $7500, and the 8834 "Qualified Plug-in Electric and Electric Vehicle Credit" seems to specifically limit the credit to $2500 per vehicle, but allows three vehicles which would equal $7500. The 8936 mentions a "tentative credit" but does not state the amount. I think it may refer to the IRC 30D list, which does state $7500, but in completing a draft of that form, other variables knock that down considerably. Am I missing something? Exactly which IRS Form would a new Leaf owner use to get the maximum deduction, assuming using the long 1040 form itemizing dedcutions?
8834 is the wrong form. You can't use it for the LEAF. 8936 is the correct form, and yes, the LEAF qualifies (tentatively) for $7500. Tentative just means that's the credit you get if other factors don't knock it down. Whether you itemize or not has nothing to do with it. Since you say it was knocked down considerably I assume that means either that your total tax liability will be less than $7500 or that you expect in addition to get tax credits from forms 1116, 2441, 8863, and/or 8880.
If you are counting on multiple tax credits you might see if you can move one or more of them into a different year.