Home Charger Cost Credit is alive and available.

[Mnlevin]

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:

 

[FlasherZ]

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.

The proper form is 8936, not 8834.

Form 8834 notes:

Note.
• Use this form to claim the credit for certain two- or three-wheeled vehicles or low-speed four-wheeled plug-in electric vehicles
acquired before 2012.
• Claim the credit for certain other plug-in electric vehicles on Form 8936.
• Claim the credit for certain alternative motor vehicles on Form 8910.

 

[jomo25]

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

 

[jeffro01]

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

 

[gregincal]

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

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

 

[jeffro01]

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

Gotcha, thanks.

Jeff

 

[carrerascott]

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...

 

[gregincal]

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 - - -

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...

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.

 

[carrerascott]

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.

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!

 

[apaloma]

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.

 

[JerryNycom]

Why is the business credit so much?

 

[nrcooled]

My household income disqualified me for this credit so YMMV.

 

[gmontem]

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

 

[alexkiritz]

Why is the business credit so much?

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

 

[kcveins]

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.

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...

 

[tdiggity]

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.

 

[FlasherZ]

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

 

[mai]

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).

 

[Pmacafee]

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