Alternative Fuel Vehicle Refueling Property Credit for USA federal taxes

692 Views 1 Reply 2 Participants Last post by MB DNA, Apr 1, 2020

Jeb Baker

Discussion Starter · Apr 1, 2020

I bought a level 2 EV charger for my house in 2019 for about $400.

According to IRS, Form 8911 can be used as a personal property credit for "property" used "to recharge an electric vehicle, but only if the recharging property is located at the point where the vehicle is recharged." And "If the property isn’t business/investment use property, the property must be installed on property used as your main home."

So for this $400 purchase, I should be able to get a credit of $120 for the EV charger.

Anybody else do this??

I haven't filed yet, because going this route bumps me into having to pay an additional $50 for filing, rather than going with a free filing.
So, I'll either come out $70 ahead or get a $50.00 hit, so if anybody here can say whether it works or doesn't work, please respond.

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MB DNA

· #2 · Apr 1, 2020

Jeb Baker said:
I bought a level 2 EV charger for my house in 2019 for about $400.

According to IRS, Form 8911 can be used as a personal property credit for "property" used "to recharge an electric vehicle, but only if the recharging property is located at the point where the vehicle is recharged." And "If the property isn’t business/investment use property, the property must be installed on property used as your main home."

So for this $400 purchase, I should be able to get a credit of $120 for the EV charger.

Of course it works but like all things "tax related" - the Devil is in the details.

Sometimes the juice isn't worth the squeeze but my "hard wired" L2 install should realize a tax savings of about $300.

Form 8911: https://www.irs.gov/pub/irs-pdf/f8911.pdf

US extends tax credits for EV chargers, motorcycles...

When are "incentive" credits handed out both retroactively and extended forward? When a group of politicians are making the rules! The US spending bill just agreed to last night includes extension of tax credits for home EV charger installations, electric motorcycles, and fuel-cell vehicles...

www.smartcarofamerica.com

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US extends tax credits for EV chargers, motorcycles...

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