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Tax question

Tax question

Does anyone know, to what tax year, the federal tax credit is applied? If I order in 2018, but don't take delivery until 2019, can I claim the credit on my 2018 taxes? Thanks.

Bighorn | 2018年11月4日

When the car is registered for use.

mrburke | 2018年11月4日

The year you take delivery.

hector | 2018年11月4日

Wouldn’t it technically be the year you paid for it? Meaning the year you paid for the down payment and taxes.

There is a way to add your payment info via your account for the costs to pick up your car. I can see making the tax argument that the credit should apply to the year you paid for the car.

kcheng | 2018年11月4日

Well, you have to fill out Form 8936, and that needs: Year, make and model of vehicle; and your VIN, and the Date you placed the vehicle in service.

When I bought my 2016 Volt, I closed the financing between Xmas and New Year's Day, and picked up the car on Jan 3rd. All the paperwork indicates the transaction occurred before the EOY.

Your question does not seem to imply knowing your VIN or being able to complete the transaction in 2018, so I would say your idea won't hold up to an audit.

Bighorn | 2018年11月4日

Asked and answered.

hector | 2018年11月4日

As in KCheng's case, if you can close the deal before EOD, you can take the credit for tax year 2018. Even if you pick up in 2019. Otherwise, not.

stevenmaifert | 2018年11月5日

It's the tax year you put the car in service, which for most folks it the tax year they take delivery. It doesn't matter when you made the purchase, when you paid for the car, when you closed the deal or any other celestial event; it's the day you take delivery: https://www.tesla.com/blog/what-you-need-know-about-federal-ev-tax-credi... Notice the column "For Vehicles Delivered".