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California $2500 rebate income limit based on which year's income?

Discussion in 'Model S' started by Quesder, Feb 2, 2017.

  1. Quesder

    Quesder Member

    Joined:
    Jun 14, 2016
    Messages:
    257
    Location:
    San Jose, CA
    Hi all,
    I ordered a Tesla and the delivery date is in March. I will apply CA rebate to get $2500 inventive.
    my last year's income is below $300,000 limit, and I estimate this year it won't surpass $300,000 as long as I don't sell any stock shares.

    But this really makes me uncomfortable because I am afraid that the stock price might drop any time in this year.

    So, when I take the delivery, can I apply for the $2500 CA rebate immediately using 2016 income, or do I have to provide evidence of 2017 income and apply in 2018?

    I should have asked this question last year when I was ordering...
     
  2. jeffro01

    jeffro01 Active Member

    Joined:
    Jan 30, 2013
    Messages:
    2,061
    Location:
    SF Bay Area
    Income Eligibility

    Google is your friend here... Says right there under the income chart what documentation they require... :)

    Jeff
     
  3. Quesder

    Quesder Member

    Joined:
    Jun 14, 2016
    Messages:
    257
    Location:
    San Jose, CA
    Looks like I need to provide 2016 income ? So I can make money without any concern this year.
     
  4. phaduman

    phaduman Supporting Member

    Joined:
    Sep 16, 2016
    Messages:
    366
    Location:
    San Jose
    When I applied for the rebate in Oct 2016 (rushed before the income limit dropped), I used the completed 2015 tax returns. No issues.

    For you, you need to send the "completed/approved" income statement. In your case, I think it would be 2016 income.
     
  5. hmmm

    hmmm Member

    Joined:
    May 12, 2015
    Messages:
    834
    Location:
    Driver Seat
    (before someone gets on my case, yes, I will/should consult a tax professional.)

    Now that this is out of the way, I am curious to see how one should interpret the regulations:

    a) I understand the income limitations but
    b) I am confused by the household restriction (ie living under the same roof, sharing expenses...).

    If I am a single filer, none of the restrictions/calculations re. to household should not apply, correct? for instance, a "roomate" type of situation...
     
  6. oktane

    oktane Active Member

    Joined:
    Oct 25, 2016
    Messages:
    1,589
    Location:
    USA
    If you are a single filer, your "roommate" would not count towards your income limit as a single filer. Of course you can't use the joint filer limits.
     

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