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Federal Income Tax Credit for EV Charging Equipment

Discussion in 'Hawaii' started by Akikiki, Feb 12, 2014.

  1. Akikiki

    Akikiki A'-Lo-HA ! y'all

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    #1 Akikiki, Feb 12, 2014
    Last edited: Feb 14, 2014
    Federal Income Tax Credit for EV Charging Equipment

    Don't forget to take your "Federal Income Tax Credit for EV Charging Equipment". Technically it's called the Alternative Fuel Vehicle Refueling Property Credit and you use Form 8911

    You earn a federal tax credit of 30% of the cost of installing EV charging equipment, such as the HPWC or NEMA outlet to charge your EV.

    The ceiling is 30% of the cost up to a total credit of $1,000

    This particular tax credit expired on 31 Dec 2013. If you didn't install and take the credit in '13 Tax year, you missed it.

    Talk to your Tax guy/gal to get all the details.
     
  2. StephenM

    StephenM Active Member

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    Thanks for this, Akikiki. It's about that time to file...
     
  3. RandyS

    RandyS Fan of Elon

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    I bought my car last year as well and Turbo Tax says I don't qualify for the charging equipment credit. In looking at the worksheet, there is a Tentative Minimum Tax calculation issue, and the $7500 credit for the car is part of those calculations...So no credit for me...
     
  4. spleen

    spleen Active Member

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    I think it's also subjected to AMT so if that applies to you, then you won't qualify.
     
  5. Timothy

    Timothy Driving on Sunshine

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    I submitted the info to my accountant. I was able to receive the full $7500 Federal Tax Credit for the purchase of the car. I gave him the information for the 30% tax credit for the EVSE installation to put on Form 8911 and he filled it out. But somehow that is different than the vehicle credit--because, exactly as you say with the AMT, I don't qualify for this extra tax credit. :crying:
     
  6. Akikiki

    Akikiki A'-Lo-HA ! y'all

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    Happy for you and sad for you. Sorry you didn't get both. I guess that's the price of being "famous". Made enough to buy a Tesla and punished for making enough to buy a Tesla. :smile:
     
  7. nanimac

    nanimac Aloha!

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    Our CPA said we'll have to pay taxes next year if we don't have any fancy tax credits. Told her i'll just get another Tesla to get the EV tax credit :tongue:
     
  8. Akikiki

    Akikiki A'-Lo-HA ! y'all

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    Sounds like a great plan. Pick out what you want (P85+ in Blue). Wait for it to arrive and hand the fob to Lady Tesla over to your husband. Having one he can drive every day will be the nudge he needs to sell his ICE. And your work is done.
     
  9. nanimac

    nanimac Aloha!

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    LOL..He's actually waiting to see the Model X..but that wouldn't help our taxes for this year..
     
  10. Zroiron

    Zroiron Poodle Pack Leader

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    I wish that Congress would get to work and reinstate the credit for those of us who bought the HPWC in 2014,
     
  11. Akikiki

    Akikiki A'-Lo-HA ! y'all

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    Hmm, did you have a different plan for dealing with the same problem in '15?
     

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