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Ingineer
Posts: 2741
Joined: Fri Oct 15, 2010 1:09 pm
Delivery Date: 13 Jul 2011
Leaf Number: 6969
Location: Berkeley, California
Contact: Website

Re: Fed tax credit for Ingineer's "L1 EVSE -> 120/240" upgrade?

Tue Mar 22, 2011 11:24 pm

If you take four 2" drywall screws, you can easily screw the EVSE to the wall. Done! =)

-Phil
Easily Learn Electricity HERE! - - - - Website: http://evseupgrade.com/[/size] - - - - Like us on Facebook: EVSE Upgrade

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akohekohe
Posts: 111
Joined: Mon Jun 28, 2010 8:36 pm
Location: O'ahu

Re: Fed tax credit for Ingineer's "L1 EVSE -> 120/240" upgrade?

Wed Mar 23, 2011 6:32 pm

AmarilloLeaf wrote: The language used in Section 179A (d) is as follows:

(d) Qualified clean-fuel vehicle refueling property defined
For purposes of this section, the term “qualified clean-fuel vehicle refueling property” means any property (not including a building and its structural components) if—
(1) such property is of a character subject to the allowance for depreciation,
... It would be an IRS call on whether this is a"of a character subject to the allowance for depreciation".
I think the EVSE is clearly depreciable property. Here are the relevant items from Pub 946, How to Depreciate Property:
To be depreciable, the property must meet all the following requirements.

* It must be property you own.
* It must be used in your business or income-producing activity.
* It must have a determinable useful life.
* It must be expected to last more than one year.
The first two items don't affect its depreciable "character" so we have a determinable useful life and expected to last more than one year. Here is what Pub 946 has to say about that:
Property Having a Determinable Useful Life

To be depreciable, your property must have a determinable useful life. This means that it must be something that wears out, decays, gets used up, becomes obsolete, or loses its value from natural causes.

Property Lasting More Than One Year

To be depreciable, property must have a useful life that extends substantially beyond the year you place it in service.

Example.

You maintain a library for use in your profession. You can depreciate it. However, if you buy technical books, journals, or information services for use in your business that have a useful life of one year or less, you cannot depreciate them. Instead, you deduct their cost as a business expense.
The EVSE clearly meets both of these criteria.

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