Tax credit for EV charger?

[neurocutie]

So... if we spring for a home EV charger, through 2020, there is a 30% tax credit (up to $1000)?
including any electrical work and the charger unit itself?

https://ww.electrek.co/2019/12/18/u...s-motorcycles-fuel-cells-again-retroactively/

 

[tfraley]

Interesting. I didn't know about this.
I got a reimbursement from my DWP when I purchased 6 months or so ago 2019.

 

[swaltner]

Yes, that tax credit covers any expense related to the EVSE installation. That includes expenses like the EVSE, breaker, wire, conduit, electrician labor, building permits, an electric sub-panel in the garage, etc...

If you are forced to upgrade your main electric panel or feed line due to a load calculation, that should also be included, but with that much work, you’d likely approach the limit on the credit. The $1,000 limit is on the credit itself, so you max that out with out of pocket expenses of $3,333.33

Edit: and semantics, the thing you install is an EVSE or charging station, not a charger. The charger is inside the car and converts the AC to DC to charge the batteries. The EVSE is a “glorified extension cord” with some safety mechanisms built in.

 

[neurocutie]

I was thinking of getting a 14-50 outlet installed in my garage and then getting another Universal Mobile Charger. Is there any notion that the UMC would not be eligible for this tax credit but a Wall Charger would? even though they would serve the same purpose in the same garage?

BTW, nice that the White House killed the revival of the $7500 tax credits for Tesla (and GM)... (NOT)...

 

[David29]

You might want to be careful that the "bill" being discussed is actually approved by both houses and signed by the President. The article makes it sound as if it is definite, but it does not say the bill was actually approved by Trump....

 

[swaltner]

There’s always been some discussion as to if a 14-50 outlet qualifies as a charging station. Some say yes, some say no. I don’t remember the IRS giving a definitive statement on that in the past.

 

[neurocutie]

"There’s always been some discussion as to if a 14-50 outlet qualifies as a charging station. Some say yes, some say no. I don’t remember the IRS giving a definitive statement on that in the past."

if a breaker is for a charger and counts, why shouldn't a receptacle/outlet that is for a charger count?

 

[srs5694]

You might want to be careful that the "bill" being discussed is actually approved by both houses and signed by the President. The article makes it sound as if it is definite, but it does not say the bill was actually approved by Trump....

It's a small part of a much bigger and rather important spending bill, so chances are it will be signed. That said, I agree that one should be 100% certain that it's been enacted into law before making decisions based on this tax credit.

FWIW, a similar credit was in place when I had my Clipper Creek HCS-40 installed in 2016 for the Chevy Volt I was driving at the time. My biggest recollection about the credit is that the tax software I used for that year (H&R Block; I don't recall which variant) did not include the necessary form. That was a royal pain; I had to fill out the form manually from a PDF provided by the IRS, enter an override into the main 1040 form, print everything out, and file both Federal and state taxes via snail-mail rather than electronically. A friend of mine who used TurboTax that year and who had also installed an EVSE did not have this problem. Thus, I recommend you check to see if your tax software supports the form in question before buying the software (assuming you use tax software, of course). With any luck H&R Block supports the form by now, but I have no definite knowledge one way or the other. You might also want to avoid filing at the last minute, just in case you need to jump through the snail-mail hoop.

 

[David29]

It's a small part of a much bigger and rather important spending bill, so chances are it will be signed. That said, I agree that one should be 100% certain that it's been enacted into law before making decisions based on this tax credit.

FWIW, a similar credit was in place when I had my Clipper Creek HCS-40 installed in 2016 for the Chevy Volt I was driving at the time. My biggest recollection about the credit is that the tax software I used for that year (H&R Block; I don't recall which variant) did not include the necessary form. That was a royal pain; I had to fill out the form manually from a PDF provided by the IRS, enter an override into the main 1040 form, print everything out, and file both Federal and state taxes via snail-mail rather than electronically. A friend of mine who used TurboTax that year and who had also installed an EVSE did not have this problem. Thus, I recommend you check to see if your tax software supports the form in question before buying the software (assuming you use tax software, of course). With any luck H&R Block supports the form by now, but I have no definite knowledge one way or the other. You might also want to avoid filing at the last minute, just in case you need to jump through the snail-mail hoop.

Excellent point. I also use H&R Block tax software (which generally is very good) and I have a similar recollection about my 2016 filing when I also claimed the credit. Still, the extra hassle was worth it for a $1000 credit.

 

[neurocutie]

So... if we spring for a home EV charger, through 2020, there is a 30% tax credit (up to $1000)?
including any electrical work and the charger unit itself?

https://ww.electrek.co/2019/12/18/u...s-motorcycles-fuel-cells-again-retroactively/

So are we 100% sure that this 30% home EV charger tax credit is going through?

Is installing a 14-50 outlet expressly for the Tesla charger good enough or does it have to be the HWC?

 

[turns2stone]

So are we 100% sure that this 30% home EV charger tax credit is going through?

Is installing a 14-50 outlet expressly for the Tesla charger good enough or does it have to be the HWC?

You can see the language in the linked gov’t bill. However, the applicable forms are not yet available. Could be several more weeks.

 

[GPinzone]

Also, your state might offer an ADDITIONAL rebate. The forms may be hard to find. Don't assume if TurboTax doesn't have them, they don't exist.

 

[mrau]

IRS Form 8911 has not been finalized yet for the EV Charger credit. However the draft is out and it looks similar to the old form.

In order to take the credit for 2019 it appears it has to be placed into service during 2019. If you had bought the equipment in 2018 but did no put into service/install until 2019, do you claim the credit for 2019?

Also, if you put it in service for 2018 then it would seem you have to file an amended tax return for 2018 to claim the credit.

Any tax gurus have insight about this?


BTW, this is a nice 30% tax credit that most of us should be able to take advantage of. It covers years 2018, 2019 and 2020.

 

[Knightshade]

Also, if you put it in service for 2018 then it would seem you have to file an amended tax return for 2018 to claim the credit.

Any tax gurus have insight about this?

.

Not a guru, but AFAIK you are correct. Pain in the butt, but probably worth it given most folks will get hundreds back for it.

 

[mreynolds767]

If you bought your Telsa wall connector from 3rd party (new but off of Ebay from private seller) and paid an electrician via check with no receipt/invoice can I still deduct ?
Believe it was $1400 combined total for both.
I would have paypal receipt and deposited check receipt both in 2019 that can be proven but I don't exactly want to invite an audit.

I blame Telsa for my wall connector purchase, it was not to save money but to get it faster.

 

[mrau]

I don't believe you will have to submit any receipts with the tax return. Just have to keep them around in case the IRS asks (audits). I think a copy of the check with some good notes should be suffice.

Also, I think for those that claimed an electric vehicle credit would less likely be audited for taking the EV charger credit as well.