Can the tax credit be claimed the same year you buy a Leaf?

[yortch]

If I purchase a 2013 Leaf in 2013, will I be able to claim the federal tax credit in my 2012 tax return?
To make this more complicated, I have already filed my 2012 return. If the credit can be claimed the same year you buy the car, I'm considering filing an amended return. I normally would not go to this trouble but I may need to amend my return anyway due to a deduction I forgot to include.

 

[oakwcj]

If I purchase a 2013 Leaf in 2013, will I be able to claim the federal tax credit in my 2012 tax return?
To make this more complicated, I have already filed my 2012 return. If the credit can be claimed the same year you buy the car, I'm considering filing an amended return. I normally would not go to this trouble but I may need to amend my return anyway due to a deduction I forgot to include.

It's not complicated at all. The answer is NO. You can't claim a credit for a purchase made in 2013 on a tax return for a previous year.

 

[planet4ever]

You can, however, lease instead of purchase. If you do that, Nissan will give you instant credit for the $7,500 as a part of the deal. It actually counts as part of your lease down payment. So if you give them, say, $2,000 cash, they will treat it as if you gave them $9,500. That will make your monthly lease payments surprisingly low.

Ray

 

[davewill]

Your title is confusing. You actually have to claim the credit in the same year you buy the LEAF. What you want to do is claim it the year before you buy it.

 

[smkettner]

All 2013 transactions, income, expenses, credits (including LEAF) goes on your 2013 return.
This is not an IRA contribution.

 

[yortch]

Your title is confusing. You actually have to claim the credit in the same year you buy the LEAF. What you want to do is claim it the year before you buy it.

Got it! Yes, what I meant to ask is if I bought it in early 2013, whether I could include it in the tax return for 2012 which is filed in 2013 calendar year. And the answer is a clear NO, as I suspected, thanks!

You can, however, lease instead of purchase. If you do that, Nissan will give you instant credit for the $7,500 as a part of the deal. It actually counts as part of your lease down payment.

I actually just bought it and one of the main reasons was to be able to claim the additional PA rebate currently at $3,000.

Thanks for the input!