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I got $1500 EV charging credit in state of IL
Purchase Tesla Y 2022 no EV credit Tesla did not qualify.
When I change to non Tesla $7500 showed up buy EV charger was removed
I used TurboTax premier
I had a similar issue when I used TurboTax to file my taxes this year. I did not claim EV credit but I did claim solar tax credit, and my wall charger tax credit showed up as zero. I was not able to figure out how to claim the wall charger tax credit in TurboTax. I'm not sure if this is a bug in TurboTax or if the IRS rules preclude it.Yes exactly
I had a similar issue when I used TurboTax to file my taxes this year. I did not claim EV credit but I did claim solar tax credit, and my wall charger tax credit showed up as zero. I was not able to figure out how to claim the wall charger tax credit in TurboTax. I'm not sure if this is a bug in TurboTax or if the IRS rules preclude it.
It would be helpful if any tax professionals can weigh in on this.
Looks like IRS rules preclude it, it’s line 15 of form 8911 alternative fuel credit.
Credits that reduce regular tax before the alternative fuel vehicle refueling property credit:
charger installation isn't covered by Federal credits.My cousin bought a qualified EV in 2022 and also installed an electric car charger for $2800(labor and material). His total tax due is 21k on 170k income and he said the only credit he is getting is the 7500 and not the 30% back on the ev charger. Seems like that zero’s out in your taxes when you get $7500 tax credit for the ev..which sucks!
Are you sure? I've always read that it is.charger installation isn't covered by Federal credits.
charger installation isn't covered by Federal credits.
Link ?
by the time you're through, all you've got is a headache.
local utilities seem to make it more straightforward....at least in my jurisdiction.
charger installation isn't covered by Federal credits.
As far as I know, charger-related fees are local electric utility policies, and vary widely.
as him if he's spoken to anyone there.
If you are subject to AMT, you cannot claim the credit. I had this issue personally in 2017 when I had my Juicebox installed.
In 2017 you were able to accelerate payment of real estate taxes due in 2018 if you were already billed for them in 2017. Many people took advantage of this as state and local taxes became limited to a $10,000 deduction in 2018. State and local tax deductions disproportionate to your AGI usually puts you in the AMT, as well as other tax preference items. In short, rich folks do not exclusively pay AMT.I would not mind having that issue
AMT was a much bigger issue in 2017 than 2018 onward, as the Trump tax bill took effect and the deductions that pushed middle tier tax payers into AMT were mostly eliminated.Yes, I'm a CPA and the cost of the charger installation is included in the costs eligible for the alternative fuel vehicle refueling property credit. However, not everyone can claim the credit. If you are subject to AMT, you cannot claim the credit. I had this issue personally in 2017 when I had my Juicebox installed. Everyone's tax situation is different, so please consult your tax preparer.
Hence, people who make a lot more than average people pay more tax?? I like itAMT was a much bigger issue in 2017 than 2018 onward, as the Trump tax bill took effect and the deductions that pushed middle tier tax payers into AMT were mostly eliminated.
nah...people who live in higher cost zips subsidize you. Basically those in NY and CA. It's fine to admit being a bit parasitic, but it's not the fairness you suggest it is. It was an attack on blue states.Hence, people who make a lot more than average people pay more tax?? I like it