Confirmed over text that FSD transfer is eligible - VIN assigned in October
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Deliveries of $80k X?
- Thread starter Smitty79
- Start date
Ordered MXLR, Red/Black on 9/22. Seeing the pace, looks like mine won’t arrive in 2023. Won’t be eligible for tax credit in 2024, will end up cancelling this to go a different spec combination
I would not really lose hope. So far those estimates have been pretty accurate.
Also, remember, the IRS counts the lower AGI of prior two tax years for tax credit.
Tesla person called me from Norfolk location. Im taking delivery on 10/7 and they confirmed FSD transfer will be no problem.
Is this true? I could go back as far as 2021 for a 2023 delivery? Anywhere that I can read this.
No, you can only use the year of delivery and the prior year. So, for a 2023 delivery you can use your 2022 or 2023 MAGI to qualify.
I think you can use either the year that you bought it or the prior year.
Credits for New Clean Vehicles Purchased in 2023 or After | Internal Revenue Service
"You can use your modified AGI from the year you take delivery of the vehicle or the year before, whichever is less. If your modified AGI is below the threshold in 1 of the two years, you can claim the credit."
My guy, you got almost 3 months left in the year. Your EDD is generally pretty accurate and Tesla works hard in Q4 to make as many deliveries as possible for yearend reporting and also since they know tax credit will change on most of their cars starting in 2024. All of us that ordered early Sept got our cars within a month, given the extra demand def seeing it by 12/31.Ordered MXLR, Red/Black on 9/22. Seeing the pace, looks like mine won’t arrive in 2023. Won’t be eligible for tax credit in 2024, will end up cancelling this to go a different spec combination
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Yeah my apologies for the confusion, what I meant is the year prior to the tax year you bought the vehicle. I assumed that poster was worried that he wouldn't get the tax credit if the car came next year, but that's not true if his income qualified this year.
However, the tax credit will likely be reduced per Tesla's website. (I honestly don't think it will, I have a hunch that Tesla only said that to spur more demand for Q4 2023.)
@mathnerd88
I'm a little confused. I ordered my MXLR Sept 30., with NOV-DEC 2023 EDD. Are you saying that IF I take delivery in 2024, I can claim the current $7500 Tax Credit, if my 2023 MAGI qualifies?
TANGO SUKKA
Member
placed an order for a black poverty edition on 9/22. EDD just got updated to nov 20-jan 1.
If you take delivery in 2024, you can use your MAGI from 2023 to qualify for the tax credit if it is less than $150k single or $300k married. This is important because for some, their income is expected to increase for the 2024 year that would make them ineligible for tax credit.
The tax credit in 2024 will be applied at point of sale, not something you have to file for refund later. It’ll be either $7500 or $3750 by that point since Tesla has to make sure the car still qualifies based on battery materials.
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@mathnerd88
Thank you for that insightful explanation. I get everything except next to last sentence. Why is 2024 tax Credit applied at point of sale, instead of when I file my 2024 Federal Tax Return?
thanks so much for your help.
YellowJacketMS
Member
No you will get whatever the credit is in 2024 which could be lower or the same depending if Tesla meets the new 2024 requirements for full credit.
I finally got a date, in MI.
Order 9/22
EDD1: Nov-Dec
EDD2: Nov 26- Jan 21 , that's a big window
Order 9/22
EDD1: Nov-Dec
EDD2: Nov 26- Jan 21 , that's a big window
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