US charger & install tax credit

[amelen]

I was just reading that in the US installing an EV charger may qualify for a 30% tax credit. It seems like this also expires Dec 31st. Does anyone have more detail on this law/credit? My Taycan isn't coming for 3-4mo, but maybe it makes sense for me to purchase an EV charger now to take advantage of the credit?

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[daveo4EV]

discounts are always good - and it's not like you're not going to get a charger - use the tax credit.

 

[amelen]

discounts are always good - and it's not like you're not going to get a charger - use the tax credit.

I think that would mean I'd need to buy it and install it in the next week. Still trying to figure out the exact law/rule.

 

[Kingske]

I think that would mean I'd need to buy it and install it in the next week. Still trying to figure out the exact law/rule.

There is indeed a federal tax credit in 2020 for the installation (labor and equipment) of EV chargers at home, independent of the $7,500 tax rebate on the vehicle itself. However, I believe there may be a cap of $1,000 on the creditable amount of the charger installation.

 

[amelen]

There is indeed a federal tax credit in 2020 for the installation (labor and equipment) of EV chargers at home, independent of the $7,500 tax rebate on the vehicle itself. However, I believe there may be a cap of $1,000 on the creditable amount of the charger installation.

And I'd imagine this is independent of owning an electric car? I won't have the Taycan this year.

 

[NC_Taycan]

If you installed a charger yourself, any way to get the tax credit for the charger?

 

[Kingske]

And I'd imagine this is independent of owning an electric car? I won't have the Taycan this year.

I would guess so...

 

[Kingske]

If you installed a charger yourself, any way to get the tax credit for the charger?

My bet would be yes, if you kept the invoice for the charger and possibly for additional materials you bought.

 

[NC_Taycan]

My bet would be yes, if you kept the invoice for the charger and possibly for additional materials you bought.

That would be the Porsche mobile charger connect ($0 cost option on MY2020), and I had no extra materials since I already had a NEMA 14-50 for a Tesla. Guess I could charge for my time...

 

[Kingske]

That would be the Porsche mobile charger connect ($0 cost option on MY2020), and I had no extra materials since I already had a NEMA 14-50 for a Tesla. Guess I could charge for my time...

On my MY2020 it was not a free option but an obligatory one for - I believe - $1,120. I will not try to claim the value of the charger since I am already north of $900 with the electrician’s bill for running a 100A 240V line to the garage and for installing two NEMA 14-50’s with a subpanel.

 

[amelen]

On my MY2020 it was not a free option but an obligatory one for - I believe - $1,120. I will not try to claim the value of the charger since I am already north of $900 with the electrician’s bill for running a 100A 240V line to the garage and for installing two NEMA 14-50’s with a subpanel.

I guess you're keeping documentation of the install? I had an electrician run a line, but I paid him cash and he didn't give me a receipt (although I guess I can ask him for one).

 

[Kingske]

I guess you're keeping documentation of the install? I had an electrician run a line, but I paid him cash and he didn't give me a receipt (although I guess I can ask him for one).

Yes, I have a proper invoice which also mentions the date so that I can still prove it is a 2020 expense when tax time comes in the spring of next year. Worth asking your electrician for an invoice.

 

[Genau]

I was just reading that in the US installing an EV charger may qualify for a 30% tax credit. It seems like this also expires Dec 31st. Does anyone have more detail on this law/credit? My Taycan isn't coming for 3-4mo, but maybe it makes sense for me to purchase an EV charger now to take advantage of the credit?

Hi Alex, please don't be offended, but I've been on this forum for about a year, and I've noticed that you are making a lot of posts for topics that have been extensively discussed on this forum. Just curious if you think the older posts are outdated, or is there some other reason you don't reference and expand upon them, as opposed to creating all new threads? Here's an existing thread on this topic, with a link to all the U.S. tax incentives for EVs. https://www.taycanforum.com/forum/threads/us-tax-and-other-incentives.1152/

 

[amelen]

Hi Alex, please don't be offended, but I've been on this forum for about a year, and I've noticed that you are making a lot of posts for topics that have been extensively discussed on this forum. Just curious if you think the older posts are outdated, or is there some other reason you don't reference and expand upon them, as opposed to creating all new threads? Here's an existing thread on this topic, with a link to all the U.S. tax incentives for EVs. https://www.taycanforum.com/forum/threads/us-tax-and-other-incentives.1152/

Yes, just making sure I have the latest info since that post isn't as recent and tax laws/credits are a moving target. I'm all set now though, the responses have been super helpful.

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