Discussion : All discussion regarding Model 3 and Tax credit in model 3 subforum

[YellyYeti]

Never, that's not part of the legislation.

Do you mean the POS portion? The FAQ's seem to indicate the Transfer is for both the New and the Used credit. I've also already seen dealerships state that they offer the Used POS transfer.

Topic H — Frequently asked questions about transfer of New Clean Vehicle Credit and Previously Owned Clean Vehicles Credit | Internal Revenue Service

Topic H — Frequently asked questions about transfer of New Clean Vehicle Credit and Previously Owned Clean Vehicles Credit

www.irs.gov

Q1. What is the transfer election? (added Oct. 6, 2023)​

A1. The transfer election allows a taxpayer purchasing a new clean vehicle or previously owned clean vehicle after Dec. 31, 2023, to transfer the entirety of the allowable credit to an eligible entity (a registered dealer) in exchange for a financial benefit (i.e., reduced final cost) from the eligible entity equal to the amount of the credit, whether in cash or in the form of a partial payment or down payment for the purchase of such vehicle.

 

[mongo]

Do you mean the POS portion? The FAQ's seem to indicate the Transfer is for both the New and the Used credit. I've also already seen dealerships state that they offer the Used POS transfer.

Topic H — Frequently asked questions about transfer of New Clean Vehicle Credit and Previously Owned Clean Vehicles Credit | Internal Revenue Service

Topic H — Frequently asked questions about transfer of New Clean Vehicle Credit and Previously Owned Clean Vehicles Credit

www.irs.gov

Q1. What is the transfer election? (added Oct. 6, 2023)​

A1. The transfer election allows a taxpayer purchasing a new clean vehicle or previously owned clean vehicle after Dec. 31, 2023, to transfer the entirety of the allowable credit to an eligible entity (a registered dealer) in exchange for a financial benefit (i.e., reduced final cost) from the eligible entity equal to the amount of the credit, whether in cash or in the form of a partial payment or down payment for the purchase of such vehicle.

Crud, you're right. It's inserted by reference in the legistration. I'm going to edit my post now.

 

[mongo]

Does anyone know if and when Tesla might start offering the Used Clean Vehicle Credit ($4000) on their used vehicles as Point-Of-Sale? There are 2 Model 3's right now that are under $25K on the Tesla website.

Do you know that they aren't? Should be the same system as new, but there are additional restrictions:
Used Clean Vehicle Credit | Internal Revenue Service

 

[YellyYeti]

Do you know that they aren't? Should be the same system as new, but there are additional restrictions:
Used Clean Vehicle Credit | Internal Revenue Service

When I click through one of the used Model 3's, there is no mention of a credit, whereas if you do that for a new Model Y they explicitly list the $7500 in the cash breakdown. I guess I could chat someone at Tesla and ask.

The AGI limits for Used are low, but I am asking for a college student.

 

[Tam]

I wonder why that is. You would think lower income buyers targeted by the Used Clean Vehicle Credit ($4000) would be even more in need of POS than more affluent buyers of new EVs.

Initially, the bill was straightforward, just like the past incentive, but it was about to die due to too much resistance. Joe Manchin didn't go along with the bill (a Democrat but a coal man), so the Democrat had to accommodate Joe Manchin's demand to make it more complicated.

 

[mongo]

Initially, the bill was straightforward, just like the past incentive, but it was about to die due to too much resistance. Joe Manchin didn't go along with the bill (a Democrat but a coal man), so the Democrat had to accommodate Joe Manchin's demand to make it more complicated.

That reply was in response to my incorrectly statement that there wasn't a PoS option for used vehicles.

 

[jurob]

Question about the 23 tax credit.

I did my taxes through turbo tax, it wouldn’t let me file as they are still waiting for tax credit paperwork on their app even though they let me enter the vehicle info and it was reflected in my refund. I tried the same to see if it was just turbo tax issue but tax act mentioned something similar but ended up not letting me file until they have the forms for my charger install (cand remember form number)

‘’anybody else had this issue? is It supposed to be remedied before tax day?

 

[Tam]

Question about the 23 tax credit.

I did my taxes through turbo tax, it wouldn’t let me file as they are still waiting for tax credit paperwork on their app even though they let me enter the vehicle info and it was reflected in my refund. I tried the same to see if it was just turbo tax issue but tax act mentioned something similar but ended up not letting me file until they have the forms for my charger install (cand remember form number)

‘’anybody else had this issue? is It supposed to be remedied before tax day?

That is an improvement. In the past Turbo Tax wouldn't even allow entering the information such as VIN... until the IRS finalized the form by March 1st.

 

[Haoc]

Hi, I have a question about EV tax credit. I bought my model 3 in January 2023. So I qualify for the $7500 ev tax credit. Now my accountant told me I need to provide a form or document from Tesla, so that she can file the ev tax credit for me. And I found this from IRS website:

"
The dealer/seller of a new clean vehicle (including a qualified fuel cell vehicle) must provide a report to you and the IRS providing information required to claim the credit, including the following.

• 
  Your name and taxpayer identification number (TIN).
• 
  The vehicle’s VIN.
• 
  The battery capacity of the vehicle.
• 
  Verification that the original use of the vehicle begins with you.
• 
  The maximum new clean vehicle credit allowable for the vehicle.
  "

But I don't recall I ever got any report from Tesla. So my question is how do I get this report/document ? Anybody has similar experience? Thanks.

 

[Tam]

Hi, I have a question about EV tax credit. I bought my model 3 in January 2023. So I qualify for the $7500 ev tax credit. Now my accountant told me I need to provide a form or document from Tesla, so that she can file the ev tax credit for me. And I found this from IRS website:

"
The dealer/seller of a new clean vehicle (including a qualified fuel cell vehicle) must provide a report to you and the IRS providing information required to claim the credit, including the following.

• 
  Your name and taxpayer identification number (TIN).
• 
  The vehicle’s VIN.
• 
  The battery capacity of the vehicle.
• 
  Verification that the original use of the vehicle begins with you.
• 
  The maximum new clean vehicle credit allowable for the vehicle.
  "

But I don't recall I ever got any report from Tesla. So my question is how do I get this report/document ? Anybody has similar experience? Thanks.

Tesla should upload it to your Tesla Account webpage.

If not there, remind Tesla to do so.

 

[mongo]

Hi, I have a question about EV tax credit. I bought my model 3 in January 2023. So I qualify for the $7500 ev tax credit. Now my accountant told me I need to provide a form or document from Tesla, so that she can file the ev tax credit for me. And I found this from IRS website:

"
The dealer/seller of a new clean vehicle (including a qualified fuel cell vehicle) must provide a report to you and the IRS providing information required to claim the credit, including the following.

• 
  Your name and taxpayer identification number (TIN).
• 
  The vehicle’s VIN.
• 
  The battery capacity of the vehicle.
• 
  Verification that the original use of the vehicle begins with you.
• 
  The maximum new clean vehicle credit allowable for the vehicle.
  "

But I don't recall I ever got any report from Tesla. So my question is how do I get this report/document ? Anybody has similar experience? Thanks.

If it's not in your documents in the app, do this right away:

just to share https://www.reddit.com/r/TeslaLounge/s/usvW9cJLuV hope this helps if anyone is still not seeing the form

Credit to u/30jaykay for spotting this and sharing - Tesla is allowing users to request an IRS form 15400 to be generated. As far as I can tell this only works for CURRENTLY OWNED vehicles, and doesn't appear to allow for other things like changing to a different co-registrant, etc. But it's a step in the right direction.

Looks like you can request a form to be generated on the Tesla website.

1. ⁠⁠Login to Tesla Account from a web browser not an app
2. ⁠⁠Check under documents if you see the document called “IRA Clean Vehicle Credit Report”
3. ⁠⁠If you see this – you don’t have to do anything!
4. ⁠⁠If you do not see document
5. ⁠⁠Login to Tesla Account from web browser not the app (if already logged in ignore)
6. ⁠⁠Go to ? Icon at top left corner of the browser
7. ⁠⁠Click the “Contact Us button”
8. ⁠⁠Select Ask Question
9. ⁠⁠Generate 2023 IRA document
10. ⁠⁠Select VIN
11. ⁠⁠SSN - do it on the private machine as its not masked
12. ⁠⁠Submit - – get message Your document will be available in the Documents section of your Tesla Account within 24 hours

Mobile users: click Menu > Support > scroll down to Contact Us

 

[Haoc]

Thank you Tam and mongo.

In the Tesla support page I found this:

How to Request Your 2023 IRA Clean Vehicle Report​

Your 2023 Clean Vehicle Report (IRS form 15400) is available by request through your Tesla Account. You will need this document to claim your 2023 EV tax credit.
To request your Clean Vehicle Report document, follow these steps:

1. Go to tesla.com/contactus.
3. Sign in using your Tesla Account email address and password.
5. From the dropdown, select ‘Generate 2023 IRA Document.’
7. Complete the form.
9. Tap ‘Submit.’

After submitting your request, you can find your document in the ‘Documents’ section of your Tesla Account.

 

[Rally]

I assume we will all find out at the same time. Any word on the M3P release date? Just holding out so I can by a M3P cheaper or same price as a M3LR after the $7,500 off.

 

[Knightshade]

I assume we will all find out at the same time. Any word on the M3P release date? Just holding out so I can by a M3P cheaper or same price as a M3LR after the $7,500 off.

It seems pretty unlikely that'll be a thing though- it'd make no sense for the 3LR to even exist in that case... which means they'll need to either knock at least 3k off the 3LR, or they'll need to price the M3P over 55k to make it ineligible for tax credit.

 

[Rally]

I don't disagree, but this is what Tesla has said on their website.

 

[Knightshade]

I don't disagree, but this is what Tesla has said on their website.

View attachment 1026420

That's in reference to any remaining inventory previous-gen Model 3 Performance vehicles, it has said that for a while now.

 

[MP3Mike]

That's in reference to any remaining inventory previous-gen Model 3 Performance vehicles, it has said that for a while now.

Then why didn't they specify the model year, like with the Model Y RWD?

 

[Knightshade]

Then why didn't they specify the model year, like with the Model Y RWD?

Because there is no model year limit on the P3 like there is with the Y RWD.

All new Ps of both 2023 and 2024 that are for sale qualify.

100% of those are pre-refresh cars though, because there are no post-refresh Ps yet.


Once the post-refresh P exists then we will see which of these turns out to be true:

The new P is priced over 55k (and thus does not qualify for price reasons)
The new P is priced under 55k but does not qualify for battery reasons (similar to the current refreshed LR and RWD 3)
The new P is priced under 55k and DOES qualify for the $7500 credit on batteries as well.



That third one is by far the least likely, since it causes a major pricing issue with the LR Model 3.

 

[MP3Mike]

All new Ps of both 2023 and 2024 that are for sale qualify.

There are no 2024 Model 3 Performance, as far as I am aware. They didn't make any.

 

[Knightshade]

There are no 2024 Model 3 Performance, as far as I am aware. They didn't make any.

In previous years Tesla switched over to next year roughly October, it's possible they suddenly changed things up in 2023 but if not all the Ps they made last few months would've been '24s

Regardless- the website reads as it does regarding the credits because the pre-refresh P qualifies regardless of year-- it tells us nothing about the post-refresh P since it doesn't exist as a thing they sell yet.


EDIT- here for example an EU customer mentions taking delivery of a 2024 in late 2023

https://www.reddit.com/r/TeslaModelY/comments/18fcmzj/i_just_got_my_new_tesla_y_but_its_a_2024_model