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Delivery Extended: Tax Credit Implications?

Buster1

Member
Oct 13, 2016
582
266
Ft Worth
Guys, I apologize, I have read through a bunch of tax threads but cannot find the answer I need.

My "Late Nov Delivery" was just pushed back on the My Tesla webpage to "December - Early January." Aside from being sad about this, what does that do to my Tax Credit if we were to take delivery in 2018? Specifically, do I get the credit at delivery and lock it in?

I'm concerned that if the credits run out in 2018, (which seems unlikely), that I would be affected because I won't file taxes for that year until Spring of 2019. How does it work?
 

Tam

Well-Known Member
Nov 25, 2012
8,553
7,353
Visalia, CA
...I won't file taxes for that year until Spring of 2019. How does it work?

You can file your tax return for the year that you got your car delivered.

If you got it in 2018, you'll wait till 2019 and file a tax return for the year 2018.

As you said, most likely, Federal Tax credit won't run out for 2018 so you file a 2018 EV Federal tax credit when you file in 2019.
 

navinsiri

Member
Jan 16, 2017
253
428
Central NJ
It goes by quarter. So as long as Tesla hasn’t sold more then 200,000 cars in the US by December 31st (they won’t), then you will be eligible to get tax credits even when you file in 2019.

More info:
For example, if tesla hits 200,000 cars sold in the US during 3rd quarter 2018, then everyone buying a car during 3rd quarter will still receive the full credit even after they have surpassed 200,000. However, the reduction in credit will begin 4th quarter. The time when you file taxes doesn’t matter, only when you bought the car

Hope that helps!
 

Buster1

Member
Oct 13, 2016
582
266
Ft Worth
Okay, thanks guys. So the tax credit is really based on the date you take delivery...not when you file your taxes many months later. I get it. Thank you.
 
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whitex

Well-Known Member
Sep 30, 2015
6,448
7,634
Seattle area, WA
You may want to mention the concern to your OA and/or DS. I had a similar situation last year and the car was successfully delivered 12/31 in the afternoon. Tesla wants to deliver as many as possible in that year as well, so it may help to let them know you are willing to be accommodating as far as delivery times, make sure you have all the paperwork and financing lined up, so that if they can make it before midnight on 12/31, you can take delivery. I heard that during the last week of last year they were delivering late into the night, well past the SC usual hours.

PS> Missing the end of quarter there may also be other implications, for example some financing special end-of-quarter rates may expire, etc.
 

Ross9733

Member
Aug 26, 2017
106
70
Dix hills, ny
Guys, I apologize, I have read through a bunch of tax threads but cannot find the answer I need.

My "Late Nov Delivery" was just pushed back on the My Tesla webpage to "December - Early January." Aside from being sad about this, what does that do to my Tax Credit if we were to take delivery in 2018? Specifically, do I get the credit at delivery and lock it in?

I'm concerned that if the credits run out in 2018, (which seems unlikely), that I would be affected because I won't file taxes for that year until Spring of 2019. How does it work?


Do not go by the dates on your my tesla page. They are always off. You will get the car before the end of the quarter. Tesla usually makes overseas orders first and then goes to east coast and finally west coast. This last quarter they were delivering cars ordered 3-4 weeks before end of quarter. Speak with your DS as they have much more accurate info.
 
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ccdisce

EBISU like
Sep 10, 2014
226
97
Georgia USA
Guys, I apologize, I have read through a bunch of tax threads but cannot find the answer I need.

My "Late Nov Delivery" was just pushed back on the My Tesla webpage to "December - Early January." Aside from being sad about this, what does that do to my Tax Credit if we were to take delivery in 2018? Specifically, do I get the credit at delivery and lock it in?

I'm concerned that if the credits run out in 2018, (which seems unlikely), that I would be affected because I won't file taxes for that year until Spring of 2019. How does it work?

Well it seems that fed tax credits will run out soon for all EV car makers.

Tesla would probably meet the end of 4th Q shipment 'commitment' to you to keep shipments high.

If you can live with a 'new inventory' in that it may come with extra miles added and a substantial discount you may want to have your sales advisor check for a car optioned closely to your custom order (have a list of 'must have' options handy) and in your local distribution area which will avoid shipping charges.
Before you talk to him have a look at the website ev-cpo.com for a car optioned the way you want and come armed with VINs etc.
Shipping could take 4-6 weeks as they may have to wait on the car transporter or train-car to fill, or you could just go and pick it up after doing the necessary paperwork.

Disclaimer: I did this to change my 75D Custom Order that was originally ordered in Aug for end of Sep delivery which kept sliding to Nov delivery. Changed it to a 100D (could use extra range ) which I could now afford with the discount which supposed to have 70 miles on the clock and a substantial discount. Car was delivered on the 28th Sep with 114 miles on the clock.

Good Luck.

Edit Once the the New Inventory car is transferred to your MyTesla account it should come with the ' Build URL' which you can use to check on the options. The referral discount should be transferred and Free Supercharging should also be listed along with the Discount and you Deposit
If you are happy with the new Order you ask the sales manager to delete your original Custom Order.
 
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Orangejamal

Member
Apr 28, 2017
14
18
Lake Forest
You can also ask your delivery specialist about “express delivery” if it looks like the actual car won’t physically be delivered in time for 2017. Basically, you sign the paperwork and close the deal before the car arrives and then they bring the car straight to your home instead of the service center. The car is officially yours on the day you sign the paperwork and any financing terms start from that date but it would count as the date of delivery even though you don’t have the car to drive until it gets to your house.
 

outdoors

Always roaming
Aug 10, 2014
1,600
2,752
in the moment
You can also ask your delivery specialist about “express delivery” if it looks like the actual car won’t physically be delivered in time for 2017. Basically, you sign the paperwork and close the deal before the car arrives and then they bring the car straight to your home instead of the service center. The car is officially yours on the day you sign the paperwork and any financing terms start from that date but it would count as the date of delivery even though you don’t have the car to drive until it gets to your house.

I signed paperwork as of 6/28. Took delivery 7/21. First payment was due 8/16. Was expecting 7/28 as first payment. The payment was the same interest amount was exact as the next payment. While you are agreeing to the terms I found that I was not paying for interest as of 6/28 FWW. I used Tesla Financing via Chase.
 

kort677

Banned
Sep 17, 2015
4,801
2,242
florida.
Guys, I apologize, I have read through a bunch of tax threads but cannot find the answer I need.

My "Late Nov Delivery" was just pushed back on the My Tesla webpage to "December - Early January." Aside from being sad about this, what does that do to my Tax Credit if we were to take delivery in 2018? Specifically, do I get the credit at delivery and lock it in?

I'm concerned that if the credits run out in 2018, (which seems unlikely), that I would be affected because I won't file taxes for that year until Spring of 2019. How does it work?
If the tax plan eliminates the credit and you get delivery post effective date of the new tax law you might not see the tax credit
 

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