TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker or making a Paypal contribution here: paypal.me/SupportTMC

IRS form 8911 - ALTERNATIVE FUEL VEHICLE REFUELING PROPERTY CREDIT 2015

Discussion in 'Model S: Battery & Charging' started by ArtInCT, Feb 10, 2016.

  1. ArtInCT

    ArtInCT Always Learning

    Joined:
    Sep 2, 2014
    Messages:
    1,603
    Location:
    Southern Connecticut
    Gang:

    I just ran across this. If you GOGGLE search "IRS FORM 8911" there is a Federal Tax Form that allows you to file for a tax credit on expenses you may have incurred building out your FY 2015 charging infrastructure for your Model S, X or Roadster.

    I believe here, we are talking documented expenses to build your charging station, either personal or business.

    I am pretty sure these expenses DO NOT include the electricity you have used but rather electrician fees, hardware & wire costs, HPWC, outlets, conduit and other fees associated with building your 2015 charging system for your BEV.

    I am not a tax expert, but non the less, this is worth looking into if it applies to your situation.

    Cheers,
    Art
     
    • Informative x 1
  2. Rockster

    Rockster Active Member

    Joined:
    Oct 22, 2013
    Messages:
    1,005
    Location:
    McKinney, TX
    I'm not a tax person, either, but I think it's impossible to claim this credit in the same year you claim the $7500 ev credit. At least that's how it appeared to be in 2013. If I'm incorrect (or if this is no longer true) I hope someone chimes in because it's a great benefit to those purchasing an EV.
     
  3. ArtInCT

    ArtInCT Always Learning

    Joined:
    Sep 2, 2014
    Messages:
    1,603
    Location:
    Southern Connecticut
    That is an interesting point... certainly your tax specialist needs to keep on their toes with this one.
    In my case, I built out my infrastructure for charging at the end of 2015, the S will arrive soon in 2016! So different tax years for me.
     
  4. cpa

    cpa Member

    Joined:
    May 17, 2014
    Messages:
    936
    Location:
    Central Valley
    I am only commenting on personal use of the Tesla and personal installation of EVSE at one's primary residence. And the credit is allowed only for a taxpayer's primary residence as defined in IRC Section 121. We do not get the credit at our vacation home or at the in-law's.

    The $7,500 credit is allowed against the dread alternative minimum tax. Any AMT limitation does not come into play. However, the EVSE credit claimed on form 8911 is not allowed to reduce AMT. Period.

    Therefore, unless your taxable income is north of about $600,000+ (depending on filing status, state of residence, etc.) most of us will not be able to claim both credits in the same tax year. And if you routinely are subject to the AMT, you likely will not get this credit regardless of when you purchased your vehicle.

    Caveat: I researched this as of 2014. The legislation that extended this provision may have tweaked the rules. I have not brushed up for the 2015 tax year on this matter as yet.

    Finally, treatment for business purposes is a whole different ballgame, and this comment does not purport to address the business treatment.
     
  5. Shaggy

    Shaggy Member

    Joined:
    Aug 9, 2015
    Messages:
    151
    Location:
    Austin
    I had no issues getting this for the charger (with professional install) and the $4007 for the Ford in the same year. Since they are separate items, I cannot imagine why it'd matter. As always consult a tax accountant as I ain't one. I plan to use the remainder of the $1000 credit when I upgrade the service to support a Model S next year along with a full credit for the car.
     
  6. Cyclone

    Cyclone Active Member

    Joined:
    Jan 12, 2015
    Messages:
    4,394
    Location:
    Charlotte, NC
    Not a problem for my CPO purchase and November 2015 wiring to support charging at home! :)
     
  7. Max*

    Max* Autopilot != Autonomous

    Joined:
    Apr 8, 2015
    Messages:
    4,866
    Location:
    NoVa
    I couldn't understand why I could claim the $7,500, but not my outlet install. Something about the AMT, so after a lot of googling, I found the same thing for 2015.

    <--- not.a.cpa
     
  8. rnelsonee

    rnelsonee Member

    Joined:
    Feb 20, 2016
    Messages:
    95
    Location:
    Maryland
    While I'm not a CPA, and will admit I don't feel like going through the entire AMT form now, looking at the Form 8911 (PDF warning) (used for determining the credit), it looks like if you're not in danger of hitting the AMT (8911 asks to compute your "Tentative Minimum Tax") you should be good to get credit. And if the $7500 screws it up (I trust the CPA's post) that's okay because very few Model 3 owners are getting the $7500 tax credit in 2016, unless we get some very good news on March 31st!
     
  9. SureValla

    SureValla Member

    Joined:
    Mar 15, 2016
    Messages:
    328
    Location:
    Shelton, CT
    would you mind sharing how you calculated the $600,000 dollar figure?
     
  10. cpa

    cpa Member

    Joined:
    May 17, 2014
    Messages:
    936
    Location:
    Central Valley
    Thirty-five years of preparing income tax returns.
     
  11. SureValla

    SureValla Member

    Joined:
    Mar 15, 2016
    Messages:
    328
    Location:
    Shelton, CT
    can you share the math? Was hoping to see some equations.
     
  12. gregd

    gregd Member

    Joined:
    Dec 31, 2014
    Messages:
    576
    Hi folks, reviving this thread since I haven't found an answer to part of the original question...

    We've discussed and understood the credits (or lack thereof) for buying a new EV (the car itself). What's not so clear is what is covered by form 8911 as far as the EV Charging stuff. Reading the form, it looks pretty clear that the EVSE itself (the box on the wall) is covered. But the major part of the cost can be (for me, at least) getting power to that EVSE. I will probably need to upgrade the main panel on the house, in addition to running some beefy wire across to the garage.

    Is that panel upgrade and the new wiring eligible for the credit, in addition to the EVSE box on the wall?
     
  13. Cyclone

    Cyclone Active Member

    Joined:
    Jan 12, 2015
    Messages:
    4,394
    Location:
    Charlotte, NC
    Assuming they are done together, yes. If you however upgrade the panel in February and install the EVSE in November, you might have trouble justifying it if you get audited.
     
    • Helpful x 1
  14. gregd

    gregd Member

    Joined:
    Dec 31, 2014
    Messages:
    576
    Got it. Thanks!
     
  15. RedModel3

    RedModel3 Member

    Joined:
    Feb 19, 2016
    Messages:
    22
    Location:
    United States
    I'm currently about to upgrade my wiring for a Chevy Volt (until the M3 comes) and the electrician and I are both going to be doing research into this. It looks like the credit DOES cover installation costs. I can't speak to the level of income that disqualifies you from getting it, but I don't come close to the AMT, and my Volt is used, so I'm not going for both credits in the same year. I'll post more info as I find out.
     
  16. MorrisonHiker

    MorrisonHiker Beta Tester

    Joined:
    Mar 8, 2015
    Messages:
    1,907
    Location:
    Morrison, Colorado, USA
    Installation fees are covered but any permitting and inspection fees are not covered.
     
  17. Duma

    Duma Member

    Joined:
    Nov 16, 2014
    Messages:
    150
    Location:
    Pittsburgh, PA
    FWIW, @cpa was spot on for my case. I was able to get the $7.5K EV credit but my tax account said the 8511 for the charger installation was not allowed due to AMT rules. This was on my 2015 taxes.

    Don't let this discourage you from exploring the primary residence charger installation, but be aware of the AMT gotcha.
     
  18. Gig103

    Gig103 Member

    Joined:
    Oct 6, 2016
    Messages:
    155
    Location:
    Phoenix Metro Area
    I don't understand how you come to the "north of $600,000" value. I'm not a CPA, but if installing a charging station costs you $3000, that's a $900 tax credit, plus $7500 for the car = $10,400. If a married household has an $90,000 joint income and takes the standard deduction of $12,600, that leaves an income of $77,400 and thus tax due of $10,944. It is far from a pittance, but it is also 1/6 of what you are suggesting.

    I will obviously be checking with my tax preparer in February but I'm trying to get an early handle on it all.
     
  19. Max*

    Max* Autopilot != Autonomous

    Joined:
    Apr 8, 2015
    Messages:
    4,866
    Location:
    NoVa
    Except it doesn't work that way. I tried claiming both in the same tax year, and was not able to.

    It was something due to the minimum tax (not AMT, but similar calculation done in the background). And my wife and I make somewhere between the two sets of numbers you posts (north of "$90k joint income", but south of the $600k that CPA estimated is needed to claim both).
     
  20. Boatguy

    Boatguy Member

    Joined:
    Apr 3, 2014
    Messages:
    676
    Location:
    SF Bay Area
    As I read the instructions, this credit would also apply to installation of dual chargers since they are:

    "To recharge an electric vehicle, but only if the recharging property is located at the point where the vehicle is recharged."

    Dual chargers are most definitely located at the point where the vehicle is recharged and mandatory for using the full capability of the HPWC.
     

Share This Page