Federal rebate for EV charger question

Federal rebate for EV charger question

Does this apply to the cost of getting a 14-50 outlet installed, which is mostly in the labor? Thanks.

mdemetri | August 1, 2013

Yes. However, if you pay AMT then the credit is zero.

AmpedRealtor | August 1, 2013

Here is what the IRS says:

Qualified Alternative Fuel Vehicle Refueling Property

Qualified alternative fuel vehicle refueling property is any property (other than a building or its structural components) used for either of the following.

To store or dispense an alternative fuel (defined below) other than electricity into the fuel tank of a motor vehicle propelled by the fuel, but only if the storage or dispensing is at the point where the fuel is delivered into that tank.
To recharge an electric vehicle, but only if the recharging property is located at the point where the vehicle is recharged.

In addition, the following requirements must be met to qualify for the credit.

You placed the refueling property in service during your tax year.
The original use of the property began with you.
The property is not used predominantly outside the United States.
If the property is not business/investment use property, the property must be installed on property used as your main home.

create | August 1, 2013

Better yet here is the form where you can read the all of what the IRS says. See lines 17 and 18 regarding AMT

+1 mdemetri. I am guessing most tesla buyers pay AMT and will not be able to get this credit.

AmpedRealtor | August 1, 2013

If the vehicle is purchased for business purposes, then I'm sure the charge port can be deducted as a regular business expense as well. So if you can't get the 30% tax credit, you may be able to reduce your taxable income by the cost of the charger installation. Assuming it's for business use.

My vehicle is going to be 100% business use, so in my case the HPWC will also be a business deduction if I don't qualify for the credit, I may be able to expense it as a Section 179 deduction. I need to discuss this with my accountant.

teslamonkey | August 9, 2013

Is this Qualified Alternative Fuel Vehicle Refueling Property Credit still available with the $7500 tax credit for purchase of the MS?

stevenmaifert | August 9, 2013

@teslamonkey - Yes.

teslamonkey | August 12, 2013

Without asking for detailed tax advice, if your federal tax credit lowers the tax you owe, AMT may be triggered? If AMT is not triggered, you should still get the Qualified Alternative Fuel Vehicle Refueling Property credit?