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Discussion Starter · #1 ·
I was just notified by Charge Point that the Residential Tax Credit was reinstated as part of the legislation passed to avoid congress' self-imposed "fiscal cliff"


Here is the link for the information on Charge Point's web site:

http://r20.rs6.net/tn.jsp?e=001rfAq...tC4Q3lRxdvP7Tq2VU4feo1AdrPCzOY5raiwTpEiQl_3hV


Here is the Link to the current PDF IRS Form

2011 IRS FORM: http://www.irs.gov/pub/irs-pdf/f8911.pdf
(Subject to change, updated by the IRS)


Here is the Link to US Tax Code change:

US CODE: http://www.law.cornell.edu/uscode/text/26/30C


The Residential Tax Credit is up to $1000 for units installed in 2012 and 2013. It is essentially an extension of the credit that expired in Dec. 2011.

Also Charge Point is willing to contact your favorite commercial establishment who may want to take advantage of credits for installing EV Charge Stations.
 

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Ah, nice. 30% of $1500 is $450 ... not an enormous sum, but I'll take it :D
Don't count on it. If you can afford a Karma, chances are that the AMT will wash out the credit. Worth a try though.
 

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Don't count on it. If you can afford a Karma, chances are that the AMT will wash out the credit. Worth a try though.
Doesn't this credit and the $7500 federal EV credit get calculated before AMT (ie so you get it either way)?
 

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Doesn't this credit and the $7500 federal EV credit get calculated before AMT (ie so you get it either way)?
Yeah, I'd like to know that too. But I don't want to ask my accountant because he always has the meter running. :D
 

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I can't speak to the $7500 credit, but I installed my charger in 2011 in the vary last days of December (and months before I got the car) just so that I could claim the tax credit.



Turns out is was all for naught; the home charger credit won't let you dip below AMT, and I was unable to take advantage of it.. I read the code this time and it looks like the AMT language is still in place.



Brent



Sent from my Windows 8 device using Board Express
 

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I can't speak to the $7500 credit, but I installed my charger in 2011 in the vary last days of December (and months before I got the car) just so that I could claim the tax credit.



Turns out is was all for naught; the home charger credit won't let you dip below AMT, and I was unable to take advantage of it.. I read the code this time and it looks like the AMT language is still in place.



Brent

Sent from my Windows 8 device using Board Express
Same thing happened to me. That was only around $800. I would be seriously bummed if the same thing happened with the $7500 EV credit this year. :s
 

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Discussion Starter · #8 ·
I am sure everyone's particular tax situation is unique. I was just posting the information so that other owners were aware that the credit was extended, and may be available. My plan is simply to give it all to the accountant when they do the taxes, and let their software handle the calcs.

Good luck every one.
 
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