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Federal Tax Credit for Inventory Cars

2krazykats

Member
Aug 20, 2015
289
26
CO
Has anyone successfully been able to claim (and receive a refund or tax offset) for buying an inventory Tesla? Reading the law, the stipulation that the "original use of which commences with the taxpayer" seems ambiguous to me and I'm not a tax lawyer or accountant nor do I even play one on TV. It seems like an inventory car used for demo purposes could be interpreted as "original use".

So I'm asking those who have gotten the fed tax credit back (eg for filing taxes from 2014 and earlier) chime in tell me you have good news!

TIA!
 

drewgould

Member
Sep 24, 2015
35
0
North Canton, Ohio
As long as it hasn't been previously titled, it's fair game for the tax credit. I've not yet received mine (will be in this 2015 tax year filing) however my accountant has confirmed that it's based on the titling of the car for eligibility.
 

HankLloydRight

No Roads
Jan 18, 2014
12,996
11,031
Connecticut
Yes, I have in 2014, in CT. Inventory cars are not previously titled, so you're the first owner.

But you should check, *I think* the law in CO says the car has to be less than 1500 miles to qualify for the state tax credit... and if a car in CO goes over 1500 miles, I've heard that Tesla is forced to register/title them. You should check it out, there are other threads on the subject.
 

2krazykats

Member
Aug 20, 2015
289
26
CO
Yes, I have in 2014, in CT. Inventory cars are not previously titled, so you're the first owner.

But you should check, *I think* the law in CO says the car has to be less than 1500 miles to qualify for the state tax credit... and if a car in CO goes over 1500 miles, I've heard that Tesla is forced to register/title them. You should check it out, there are other threads on the subject.
Yep, I've already read thru those threads and you're exactly right. CO law does stipulate that a car >1500 miles is considered used and can't be sold as new. I was trying to understand the inventory cars as it relates to the Federal Tax credit.

Thanks!

- - - Updated - - -

I did, in TX.


Great !
 

2krazykats

Member
Aug 20, 2015
289
26
CO
That's great to see all the confirmation... Now I need to find one that's in my price range and has the low miles to qualify :smile:
 

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