EV Charger Tax Credit/Rebate Woes ..... This Has GOT to be a joke!

[Rbert]

This is a problem created by your accountant. You only need documentation if you are audited. Make a copy of the web page showing the retail price of the charger, tell your accountant that’s the retail price you want to use for you tax credit. If he won’t use that, fire the accountant.

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[Maineiac12]

This is a problem created by your accountant. You only need documentation if you are audited. Make a copy of the web page showing the retail price of the charger, tell your accountant that’s the retail price you want to use for you tax credit. If he won’t use that, fire the accountant.

This right here. I’m not an accountant but if I paid to install a bundled charger and didn’t have the itemized cost, I would look up the price on Ford’s website and add that to whatever I paid the electrician to install and then claim 30% of that total.

 

[TaxmanHog]

Remember that unenrolled-return preparers, enrolled agents and CPA's who offer return preparation services, have a professional responsibility regarding proper substantiation of positions a taxpayer might wish to make 'at risk' of being called out in a matching process review or full blown audit.

 

[VTHokies]

In 2023, everyone could take the charging equipment tax credit. In 2024, it is LOCATION DEPENDENT.

And yes, the AMT can impact that.

it was location dependent in 2023 as well... https://www.irs.gov/credits-deductions/alternative-fuel-vehicle-refueling-property-credit

 

[Firn]

This crap triggers me so much. If the lawmakers that made these laws in an effort to push EV adoption to help reduce purported negative impacts on the climate of ICE vehicles how do they square this crap?

Seriously say it out loud and make it make sense!

1) You make too much money... so you dont get credit for helping to "save the planet" by building out EV infrastructure.

2) You live in wrong type of community... so we dont want to help you "save the planet" with a install credit.

3) ...and my favorite. A $79,999 truck helps save the planet and should get a Tax credit, but a $80,001 truck apparently does not help save the planet, so not credit!?!?

Because it isn't to "save the planet", even as much as the media and the echo chambers parrot that. It's about economic development.

That and above a certain dollar amount, which implies a certain income, the buyer is likely to purchase anyways. Look at how many Platinum trims there are. There should be a limit, so be it $80,000, or $70,000, or $100,000 there will always be that above and below line.

 

[djstough]

...

1) You make too much money... so you dont get credit for helping to "save the planet" by building out EV infrastructure.

2) You live in wrong type of community... so we dont want to help you "save the planet" with a install credit.

3) ...and my favorite. A $79,999 truck helps save the planet and should get a Tax credit, but a $80,001 truck apparently does not help save the planet, so not credit!?!?

I hit on two of the three as well. I guess it was to keep the "rich" from benefitting. I am far from rich, but do okay, and don't live in a depressed housing area. But, how many of the people who do are buying EVs (any type, brand, or price)?

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