There are different sets of rules depending on one's situation. "No roll-over" might be accurate for some, but will be very wrong for others. I know for sure that many 'rules' in place for an employee (only source of income is earned income) change for a business owner, and change again for a corporation (and some change with S, C, or limited liability corporations).garygid wrote:Sorry, no roll-over, as this particular tax credit is defined (at least for individuals).
Some have speculated about business-related roll-overs, but I do not know how they would accomplish that.
From what I know is this is a non refundable tax credit and has to be use in the year you buy the car. I for one am buying the charger this year and putting off the car until Jan 11.Azrich wrote:I don't do my taxes. I just don't know much about it.
One simple question: If I do not use the entire $7500 tax credit for my 2010 taxes, does the remainder roll over to future years?
Thanks for your help.
Implementation ManualFederal Tax Incentives: Tax credits for electric-drive vehicles range from between $2,500 to $7,500, with factors such as battery capacity determining how much owners are eligible to receive. To meet the tax incentive's standards, an electric-drive vehicle must have a battery with a minimum capacity of 4 kilowatt-hours, with an additional $417 of tax credit added for every Kilowatt-hour in excess of 5 kWh. Vehicles such as the Nissan Leaf, with a 24 kWh capacity battery, will be eligible for the maximum $7,500 credit.