EVSE tax credit reinstated

[planet4ever]

I bought my Leaf in 2011 and I am currently using Blink. But I am thinking of getting another L2 EVSE this year -- for my Prius Plug-in and as a spare, if the tax credit checks out. Does this make any difference as to whether I can get the credit? I'm deeply in AMT land.

As I said, the problem arises if you try to take both credits (car and charging station) in the same tax year. Do you already have your PIP? Does your tax year start on Jan 1? Then presumably you got your LEAF credit against 2011 taxes, you will get your PIP credit against 2012 taxes, and your EVSE credit against 2013 taxes. You should have no problem unless you run out of non-refundable credits one or more of those years (i.e. you end up paying $0 in taxes for the year).

But the EVSE credit is small potatoes compared with the others. 30% of your out of pocket costs might be - what - maybe $300 to 600?

Ray

 

[sorphin]

So I just got a copy of my lease, and then called the dealer.. It appears Nissan took the $7500 'tax credit' (how can they do this) off the car, basically negating me taking it off my taxes. Is this right/normal on a lease?

 

[GetOffYourGas]

So I just got a copy of my lease, and then called the dealer.. It appears Nissan took the $7500 'tax credit' (how can they do this) off the car, basically negating me taking it off my taxes. Is this right/normal on a lease?

This is exactly what you want them to do. You cannot claim the tax credit yourself since you did not purchase the car. In the case of a lease, NMAC purchased the car and is renting it to you. The best thing they can do is pass that $7500 directly to you, in full. It sounds like this is just what they did.

 

[w6vms]

So I just got a copy of my lease, and then called the dealer.. It appears Nissan took the $7500 'tax credit' (how can they do this) off the car, basically negating me taking it off my taxes. Is this right/normal on a lease?

This is exactly what you want them to do. You cannot claim the tax credit yourself since you did not purchase the car. In the case of a lease, NMAC purchased the car and is renting it to you. The best thing they can do is pass that $7500 directly to you, in full. It sounds like this is just what they did.

That is how my lease was set up a month ago on a '13 SV, NMAC took the credit and passed it on to me.

 

[sorphin]

So I just got a copy of my lease, and then called the dealer.. It appears Nissan took the $7500 'tax credit' (how can they do this) off the car, basically negating me taking it off my taxes. Is this right/normal on a lease?

This is exactly what you want them to do. You cannot claim the tax credit yourself since you did not purchase the car. In the case of a lease, NMAC purchased the car and is renting it to you. The best thing they can do is pass that $7500 directly to you, in full. It sounds like this is just what they did.

That is how my lease was set up a month ago on a '13 SV, NMAC took the credit and passed it on to me.

Well, with as much as I'll be paying them, they're basically just pocketing the $7500 back anyways.. Oh well. On to more important things, like enjoying said Leaf.

 

[tinaCA]

Does this credit apply only for "charging stations", what about the cord upgrade/220V outlet install combination?

 

[planet4ever]

Does this credit apply only for "charging stations", what about the cord upgrade/220V outlet install combination?

The wording of the law is "charging property". That means anything that is attached, directly or indirectly, to the land. Without a doubt it includes any electrical upgrades, wiring, installation costs, city permits, etc. I personally felt justified in also including the cost of the EVSE upgrade itself, because I use it as my one and only charging station at home. It is actually semi-permanently attached to the wall, using two deck screws. Whether you want to claim 30% of that $300 or so is between you, your conscience, and barely possibly your IRS inspector.

Ray

 

[pachakutek]

Sorry to resurrect this thread...
It's clear that the credit for EVSE got reinstated it for 2012, but did it also get so for 2013?

I read here that it did:

http://www.ct.gov/deep/lib/deep/air/electric_vehicle/evse_fact_sheet.pdf" onclick="window.open(this.href);return false;

(But that's from the connecticut state page - but again, it's a federal tax break)

Anyways, do you guys know for sure that it is good for 2013 too?

Tona

 

[planet4ever]

Yes, it is good for 2013, but isn't it a bit late to think about that now? You can't claim the credit unless you get the the EVSE installed and inspected by this coming Tuesday.

Well, I guess it's not too late if you already have it installed and are thinking about your upcoming income tax. The form you need is 8911, and don't overlook line 17, which forces you to fill out form 6251 even if you aren't otherwise subject to AMT. If you purchased (rather than leased) your LEAF in 2013, the $7500 tax credit for that will, for nearly everyone, drive line 18 to zero, meaning you can't claim the EVSE credit. (The $7500 has been deducted from line 16, but it isn't deducted from line 17.)

Ray

 

[pachakutek]

Actually I'm having it deliveried tomorrow - ordered it last night... gotta love Amazon Prime!
it's the Siemens that plugs into the NEMA 6-50 dryer wall plug, which I already have installed (30A 240V circuit). My new dryer runs on gas, so that plug was free. In mi case it seems just plug&play. that model has a load dial to match your existing circuits, buts its capable of 7.2kW. I'm gonna set it to 20A)

What's involved in the inspection? Who does it... City? Is it required, even if you are safely using existing circuits?

Thanks!!

 

[JeremyW]

Actually I'm having it deliveried tomorrow - ordered it last night... gotta love Amazon Prime!
it's the Siemens that plugs into the NEMA 6-50 dryer wall plug, which I already have installed (30A 240V circuit)

Dryers are typically 10-30 or 14-30, not 6-50 (common for welders).

 

[planet4ever]

Jeremy, I think pachakutek was saying he replaced the receptacle (though he called it a "plug").

pachakutek, you can probably get away with it, but it's a bit questionable. Replacing a receptacle on an existing electrical line often doesn't require an inspection, but it might, for 240v. It depends on your city. It's also debatable on the IRS end. The tax credit is for "alternative vehicle refueling property". "Property" means something that is attached, directly or indirectly, to the land. In general, something that is portable and only plugs into the wall is "equipment", not "property". However, if your Siemens is the one I am thinking of it is designed for permanent mounting, and if you mount it to the wall you should have good grounds for calling it property.

[Caution: I am neither a lawyer nor a tax accountant.]

Ray

 

[pachakutek]

Thanks guys!
planet4ever is right I meant receptacle.
And yes, it's a wall mounted EVSE- so it's "property" that is going to be attached the rest of the "property." (yep! I read that part).
I choose that EVSE in particular, because it can be dialed down (20%, 25%, 50%, 75%, out of 30A max) and allow me to re-purpose an unused/capable wiring in my house.

 

[pchilds]

In 2012, I claimed the credit for my SPX EVSE, using an existing outlet, no inspection.

 

[pachakutek]

Functional just in time for 2013! Dialed down to 75% (22.5A), and using existing dryer wiring.