I just got my plates and decided its a good time to figure out how to get the 5k tax credit. I THINK I might have figured it out but I would like someone who has gotten it to confirm what needs to be done.
I just got my plates and decided its a good time to figure out how to get the 5k tax credit. I THINK I might have figured it out but I would like someone who has gotten it to confirm what needs to be done.
I purchased a model X in 2017 and used TurboTax to complete my Federal and State Taxes. Fairly straight forward... prompted by a question about if I had any other credits for Electric vehicles I just had to answer Year/Make/Model/VIN/date purchased questions... and state that it was an electric vehicle. Since you asked about CO state tax, the result was an entry of $5000 on line 22 of the 2017 form DR 0104 and the system added a Colorado 2017 form DR 0617 with the data listed above plus a check box for “Purchased New” and the $5000 amount on line 9 (based on the size of the battery, I think). I believe all Tesla models qualify for the full $5000 credit.
and if you read it it say you need a completed DR 0617 and or a DR 0618 which coincidences with what you typed above. We have our taxes done so ill make sure that he looks at this when its time.
This is a super helpful thread! I placed an order mid-October to sneak in before Dec. 31. 2020 the CO credit shrinks by 1K and the federal is gone completely! So glad I placed an order now!