General

How to get the correct 2019 tax credit $3750 or $1875

edited November -1 in General
Seems a number of people are confused about how to fill out IRS form 8936. Many are starting out with the wrong value and then discounting it to get less than the full tax credit.

If you got your car from 1-Jan-2019 to 30-Jun-2019. your credit will be 50% of $7500 or $3750.
If you got your car from 1-Jul-2019 to 31-Dec-2019. your credit will be 25% of $7500 or $1875.

If you get a different amount, you've likely started with the wrong value.

Comments

  • I don't think this is strictly true. I purchased my Model 3 in 2018 and got the full $7500

    I purchased a Model X in October 2019 and when I filed my taxes yesterday the Feds are calculating down to the SPECIFIC number of your VIN or something. I only got a credit for $469.00 instead of $1875.00

    Needless to say I was pretty annoyed. People should be aware of this and get my head's up that if you purchased Q4 of 2019 you might get a lot less than the 1875 you planned on...
  • edited November -1
    michael.vengshoel,

    $1875 was through the end of the year. I got for my 9/20 delivery.
  • edited February 22
    @michael - 8936 is not one of the better IRS forms. Ok, enter $7500 in box 4a. Enter 25% in box 4b. Enter $1875 in box 4c. If you get $469, you likely entered the wrong value for 4a. The IRS instrutions are confusing at best.
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  • edited February 22
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  • edited July 8
    Got Tesla 3 in in the middle of October 2018. When doing the tax filling in 2019 my tax person did not know how to do it. Did know of the forms. Did anyone have any kind of problem receiving their rebates. Is the Form 8936 the same that was used 2018. Does anyone know the forum used for the state (CA) rebate.

    thanks
  • edited July 8
    @lmargarite - every state does it differently. Some like CA, it's not a tax credit, but a rebate handled completely separate from taxes.
  • edited November -1
    Here's the CA forms: https://cleanvehiclerebate.org/eng
  • edited November -1
    On federal tax forms, I think you have to used the current 2019 forums. They may be similar to 2018, but it needs to be labeled as 2019.
  • edited November -1
    If your tax person doesn’t know how to do this, you should get a new tax person.
  • edited July 9
    @EVRider - True!

    P.S. I'm not a tax person and I don't do my own taxes, but most this stuff is fairly easy. Google is your friend :)
  • edited November -1
    bassbone1,

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