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Home Charger Cost Credit is alive and available.

Discussion in 'Model S: Ordering, Production, Delivery' started by Mnlevin, Feb 10, 2013.

  1. Mnlevin

    Mnlevin Member

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    Many people including myself were aware that the credit for home chargers ended in 2011. However it is back for both 2012 and 2013. Below is the link to the IRS website explaining it and a link to the form you will need. Also you can search this site for the form 8834 needed to claim your $7500 credit.

    http://www.irs.gov/Businesses/Corporations/Alternative-Motor-Vehicle-Credit
    The form for the Vehicle Charging credit is form 8911.:biggrin:
     
  2. FlasherZ

    FlasherZ Sig Model S + Sig Model X + Model 3 Resv

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    The proper form is 8936, not 8834.

    Form 8834 notes:
     
  3. jomo25

    jomo25 P4398

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    it was reinstated as part of the fiscal cliff deal earlier this year.
     
  4. jeffro01

    jeffro01 Active Member

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    My apologies for being confused, is this in addition to the $7,500 credit Tesla refers to for purchasing an EV or is the same credit by a different name?

    Jeff
     
  5. gregincal

    gregincal Active Member

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    It's a different credit. The $7500 is for purchasing an electric vehicle, this one is for installing a charging station.
     
  6. jeffro01

    jeffro01 Active Member

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    Gotcha, thanks. :)

    Jeff
     
  7. carrerascott

    carrerascott FUEL FTR

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    Is this a credit for home chargers for business vehicle use? That's what I took from a quick look at the form, but I could be wrong...
     
  8. gregincal

    gregincal Active Member

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    Note that "charging station" is defined loosely. By my understanding, a NEMA 14-50 outlet installed for the purpose of charging your car should qualify. It simply says the property must be: "for the recharging of motor vehicles propelled by electricity, but only if the property is located at the point where the motor vehicles are recharged."

    - - - Updated - - -

    There's a separate business credit and a personal credit. Businesses get up to a $30,000 credit, homeowners get up to a $1000 credit.
     
  9. carrerascott

    carrerascott FUEL FTR

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    Thanks for the info. Will definitely look into this as I am installing both the NEMA and the HWPC. If I can put it in my business' name, all the better!
     
  10. apaloma

    apaloma Member

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    I don't think this applies to electric charging stations. At least not form 8911. The form refers to notice 2007-43 for more information which states that the qualified alternative fuel vehicle must have a gas tank propelled by alternative fuel (ethanol, natural gas, compressed natural gas, liquefied natural gas, liquefied petroleum gas, or hydrogen) or qualifying biodiesel mixture.
     
  11. JerryNycom

    JerryNycom Member

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    Why is the business credit so much?
     
  12. nrcooled

    nrcooled P#8946 VIN 03225

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    My household income disqualified me for this credit so YMMV.
     
  13. gmontem

    gmontem Model S P01707

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    I wonder if the costs of installing a second meter dedicated for a single NEMA 14-50 qualify for this home charger credit. Anyone know?
    Sent from my Nokia Lumia 920 using Board Express
     
  14. alexkiritz

    alexkiritz Member

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    Business chargers are almost all outside which almost always requires trenching etc. Businesses are also more likely to install more than one charger.
     
  15. kcveins

    kcveins delivery 2/7

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    #15 kcveins, Feb 13, 2013
    Last edited: Feb 13, 2013
    The instructions for form 8911 state:
    • To store or dispense an alternative fuel (defined below) other
    than electricity into the fuel tank of a motor vehicle propelled by
    the fuel, but only if the storage or dispensing is at the point
    where the fuel is delivered into that tank.
    • To recharge an electric vehicle, but only if the recharging
    property is located at the point where the vehicle is recharged. "

    Alternative fuel. The following are alternative fuels.
    • Any fuel at least 85 percent of the volume of which consists of
    one or more of the following: ethanol, natural gas, compressed
    natural gas, liquefied natural gas, liquefied petroleum gas, or
    hydrogen.
    • Any mixture which consists of two or more of the following:
    biodiesel (as defined in section 40A(d)(1)), diesel fuel (as defined
    in section 4083(a)(3)), or kerosene, and at least 20% of the
    volume of which consists of biodiesel determined without
    regard to any kerosene in such mixture.
    • Electricity.

    So I would think that this would qualify...
     
  16. tdiggity

    tdiggity Member

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    I don't know what form turbotax uses, but there's a form asking about charging installation. When I input some quotes I received, it credited me back $1000.
     
  17. FlasherZ

    FlasherZ Sig Model S + Sig Model X + Model 3 Resv

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    I asked my tax advisor and she stated it appears that the work I had done qualifies in form 8911. Income limits may apply!
     
  18. mai

    mai Member

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    From going through the calculation on form 8911, it appears that if you pay AMT, then you're not going to get any credit (unless you're filing for a business).
     
  19. Pmacafee

    Pmacafee Member

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    #19 Pmacafee, Feb 15, 2013
    Last edited: Feb 16, 2013
    I have a business that will be using the Model S for 100 business, but we will have to have an underground power upgrade from PG&E to be able to use more than 4 Model Ss. We rent our business space, and I do not think the PG&E upgrade is depreciable, although the HPWC's probably would be. Not sure how to parse this with our landlord.
    Philip Macafee
     

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