7500 Tax Credit Form

[lloyds]

Anyone can link to the updated IRS 8936 form for year 2013? I couldn't find it on their website.

 

[sranger]

I do not think it has been release just yet...

 

[SFOTurtle]

Any update? Is the form still not available for 2013?

Edit/update: I think the form is available now: http://www.irs.gov/pub/irs-prior/f8936--2013.pdf

 

[GDH]

It was just released. The IRS accepted my E-File today and refund is on it's way........thank god.

I used TaxAct, TurboTax still does not have the form and said it would't be ready until 2/6

 

[ZBB]

It was just released. The IRS accepted my E-File today and refund is on it's way........thank god.

I used TaxAct, TurboTax still does not have the form and said it would't be ready until 2/6

I was prepping our taxes last weekend in TurboTax Online. It was able to correctly calculate the rebate...

 

[GDH]

I was prepping our taxes last weekend in TurboTax Online. It was able to correctly calculate the rebate...

Yes it will calculate but would it let you submit your taxes?

 

[Barry]

I was prepping our taxes last weekend in TurboTax Online. It was able to correctly calculate the rebate...

Just wondering how you could do it so early, considering most brokerages don't send out their 1099s until mid-February?

 

[ZBB]

Yes it will calculate but would it let you submit your taxes?

Just wondering how you could do it so early, considering most brokerages don't send out their 1099s until mid-February?

That's why I said "prepping"... I completed the sections where I had enough info. Didn't have brokerage 1099s and was still missing mortgage interest info (so I estimated from my Quicken data), but I prepped the rest of the Federal return. Once I get the missing info, I'll be able to finish Federal and move to AZ, review and then submit...

 

[kcveins]

Can you get both the $7500 EV credit and the credit for installing a home charger? Turbo Tax is not letting me do this..

 

[Denarius]

Can you get both the $7500 EV credit and the credit for installing a home charger? Turbo Tax is not letting me do this..

I have the same issue, it shows $0 credit for my charging station on Turbotax.

 

[ZBB]

I have the same issue, it shows $0 credit for my charging station on Turbotax.

Same here. I noticed the help screen still mentioned 2012 info. Probably worth opening a case with them...

 

[lloyds]

Does anyone know if there is a limit to the tax credit? We purchased two Model Ss in 2013, so that would make $15k. The form doesn't state specifically if there is a cap. Anyone?

 

[NeedToDrive]

Can you get both the $7500 EV credit and the credit for installing a home charger? Turbo Tax is not letting me do this..

I don't use Turbo tax and just went through this manually. The $7,500 is easy and one gets that as a direct credit after the tax amount is determined. This last point is critical as it means the Tentative Minimum Tax (TMT) or possibly Alternative Minimum Tax (AMT) gyrations do not impact whether you can get the credit. It is valid for one or multiple cars -- the 8936 form even has columns identifying vehicle 1 and vehicle 2!!

The credit for installing a home charger (more properly known as the "alternative fuel vehicle refueling property credit" or just refueling property credit for short) is another story altogether. As I posted in another forum: it may be difficult or impossible for an individual to qualify for refueling property credit credit in the year you take delivery of the car (for businesses it may still be possible). I had been reading that if you owe the AMT it is impossible to get this credit. However, in my case I don't owe an AMT and I still did not qualify.
http://www.teslamotorsclub.com/show...ve-Fuel-Vehicle-refueling-property-Tax-credit

 

[lloyds]

I don't use Turbo tax and just went through this manually. The $7,500 is easy and one gets that as a direct credit after the tax amount is determined. This last point is critical as it means the Tentative Minimum Tax (TMT) or possibly Alternative Minimum Tax (AMT) gyrations do not impact whether you can get the credit. It is valid for one or multiple cars -- the 8936 form even has columns identifying vehicle 1 and vehicle 2!!

The credit for installing a home charger (more properly known as the "alternative fuel vehicle refueling property credit" or just refueling property credit for short) is another story altogether. As I posted in another forum: it may be difficult or impossible for an individual to qualify for refueling property credit credit in the year you take delivery of the car (for businesses it may still be possible). I had been reading that if you owe the AMT it is impossible to get this credit. However, in my case I don't owe an AMT and I still did not qualify.
http://www.teslamotorsclub.com/show...ve-Fuel-Vehicle-refueling-property-Tax-credit

That's true on the two slots for vehicle info. Excellent point.

 

[GlennAlanBerry]

I had the same problem with Turbo Tax not giving me any credit for the charging station. A bigger deal is the Turbo Tax State return for Colorado (where I should be eligible for a $6000.00 credit). Right now, the only list the Tesla Roadster as a possible vehicle model from Tesla. I wonder if I will have any luck contacting Intuit, or whether Tesla might be able to talk to Intuit. Or maybe it is a problem with the State of Colorado?

 

[steve841]

You folks are crazy not to use a CPA ... software is great for simple returns, not for complex ones. YES I know CPAs use software too .. but the CPA also is wired to save you money and ask the right questions.

But, it's your money. Give it away however you like.

 

[justaddsun]

My CPA wrote this to me, and I just want to cross-check with anyone who has gone through this before I pursue:

"In reading the instructions for the Form 8936, which is the form the Tesla credit goes on, it states that Tesla should have provided you an IRS letter acknowledging the certification of the vehicle as eligible for the credit. I need a copy of that letter as well as their paperwork to you that tells you the amount of credit eligible for their vehicle. I know it’s $7,500, but they are responsible for tracking it as it phases out as they sell a certain number of vehicles and only they know that."

TIA!

 

[liuping]

You folks are crazy not to use a CPA ... software is great for simple returns, not for complex ones. YES I know CPAs use software too .. but the CPA also is wired to save you money and ask the right questions.

But, it's your money. Give it away however you like.

If you are using a CPA for a "normal" return, you are giving your money away.

Unless you are running a bussiness, or doing something very complicated, Turbo Tax is sufficient and a lot less costly for filing your tax returns...

 

[ZBB]

My CPA wrote this to me, and I just want to cross-check with anyone who has gone through this before I pursue:

"In reading the instructions for the Form 8936, which is the form the Tesla credit goes on, it states that Tesla should have provided you an IRS letter acknowledging the certification of the vehicle as eligible for the credit. I need a copy of that letter as well as their paperwork to you that tells you the amount of credit eligible for their vehicle. I know it’s $7,500, but they are responsible for tracking it as it phases out as they sell a certain number of vehicles and only they know that."

TIA!

Send your CPA the following 2 links:

At Tesla: Electric Vehicle Incentives | Tesla Motors

That has a link to fueleconomy.gov that shows the amount of the credit and that it is not in phase-out: Federal Tax Credit for Electric Vehicles Purchased in or after 2010

 

[Musterion]

My CPA wrote this to me, and I just want to cross-check with anyone who has gone through this before I pursue:

"In reading the instructions for the Form 8936, which is the form the Tesla credit goes on, it states that Tesla should have provided you an IRS letter acknowledging the certification of the vehicle as eligible for the credit. I need a copy of that letter as well as their paperwork to you that tells you the amount of credit eligible for their vehicle. I know it’s $7,500, but they are responsible for tracking it as it phases out as they sell a certain number of vehicles and only they know that."

TIA!

Answered here in response to one of your cross-posts: 2013 EV Tax Credit Form Out

[Moderators: can we merge the various tax credit threads?]