Tax and/or government credits

[RBGtaycan]

Has anyone been able to get an Alternative Fuel Infrastructure Tax Credit for a residential home garage installation? " Consumers who purchase qualified residential fueling equipment prior to December 31, 2021, may receive a tax credit of up to $1,000. " ( Alternative Fuels Data Center: Alternative Fuel Infrastructure Tax Credit (energy.gov) ) "https://afdc.energy.gov/laws/10513"

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[yuanshiang]

Has anyone been able to get an Alternative Fuel Infrastructure Tax Credit for a residential home garage installation? " Consumers who purchase qualified residential fueling equipment prior to December 31, 2021, may receive a tax credit of up to $1,000. " ( Alternative Fuels Data Center: Alternative Fuel Infrastructure Tax Credit (energy.gov) ) "https://afdc.energy.gov/laws/10513"

what do you mean by “get”? I believe it’s something you would file with your federal tax return and the credit would be applied there.

 

[RBGtaycan]

what do you mean by “get”? I believe it’s something you would file with your federal tax return and the credit would be applied there.

To clarify: has anyone successfully applied for this credit and received it? It seems little known and I am not clear if a private party installing equipment in a garage is truly eligible.

 

[yuanshiang]

To clarify: has anyone successfully applied for this credit and received it? It seems little known and I am not clear if a private party installing equipment in a garage is truly eligible.

disclaimer: i am NOT a tax professional so to be absolutely certain i'd recommend talking to a tax accountant....

my interpretation is that, yes, having 3rd party/electrician do work in your garage for the purpose of installing EVSE qualifies

and i guess just to reiterate... i don't believe this is something you'd apply for then get a check in the mail or anything like that. i believe it just a form you include on your Federal Tax return and as long as you followed the form instructions correctly (or correctly indicated in your tax software that you had EVSE installation costs) your tax liability would be credited accordingly by the 30% of the cost spent on EVSE installation.

when you file it on your taxes, I would consider "getting" the credit as "successful" and as long as you have the proof to back it up (e.g. install invoices/receipt) in the event of an audit you shouldn't have to worry about the IRS reclaiming the money you credited for EVSE install.

 

[Td78]

Has anyone been able to get an Alternative Fuel Infrastructure Tax Credit for a residential home garage installation? " Consumers who purchase qualified residential fueling equipment prior to December 31, 2021, may receive a tax credit of up to $1,000. " ( Alternative Fuels Data Center: Alternative Fuel Infrastructure Tax Credit (energy.gov) ) "https://afdc.energy.gov/laws/10513"

I got it on my 2019 return. Some others had said it would likely be limited by AMT, but that did not seem to be the case for me.

When we had other improvements done, I had the electrician itemize the cost of that additional circuit. Here is more info:
https://www.irs.gov/pub/irs-pdf/i8911.pdf

 

[RBGtaycan]

I got it on my 2019 return. Some others had said it would likely be limited by AMT, but that did not seem to be the case for me.

When we had other improvements done, I had the electrician itemize the cost of that additional circuit. Here is more info:
https://www.irs.gov/pub/irs-pdf/i8911.pdf

I keep stumbling on things such as this that seem not to be well codified anywhere. I can get a rebate (plus lower rates) from my utility for a smart charger. I can get state tax credit (apparently) and a federal tax credit for "alt fuel.."(this topic). I can get $7500 fed credit (better known) for buying the Taycan (which, ironically, the dealer did not even mention!..seems like a big selling point!)

 

[RBGtaycan]

I keep stumbling on things such as this that seem not to be well codified anywhere. I can get a rebate (plus lower rates) from my utility for a smart charger. I can get state tax credit (apparently) and a federal tax credit for "alt fuel.."(this topic). I can get $7500 fed credit (better known) for buying the Taycan (which, ironically, the dealer did not even mention!..seems like a big selling point!)

this posting pertains and is helpful: (2) US Tax and Other Incentives | Porsche Taycan Forum - TaycanForum.com

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