Here is a site for a federal rebate on taxes on a ev made this year.
http://www.eere.energy.gov/afdc/progs/view_ind_fed.cgi?afdc/307/0
Thanks for that info! should come in pretty handy soon BUT unfortinately they REALLY limited it to “production” EV’s
Here is a possible credit this year by the feds.
This is what I have been waiting for my car qualifies I think!!!:D:D:D
I am not sure if this is for a new hybred or electric car but on Febuary 11th there is a revision due for the 2007 income tax credits. I’ll keep you informed. Some new program of form.
I did my taxes and they had a lot of new things you can do pertaining EV’s in there. for both federal and state.
Unfortunatly the federal tax credit does not pertain to my car. Had I bought it brand new and then converted it to electric then it probably would have worked but being that I bought a used car then converted it they say it won’t qualify. It makes the Saturn Sky progect seem almost feasable.
I believe that this link is an update of the government one that is listed at the start of this thread.
http://www.afdc.energy.gov/afdc/progs/view_ind_fed.php/afdc/409/0
I wonder if it applies to cars already put into service? :rolleyes:
The New form will be available in May and you can ammend your tax return as I read it.
Note About the February 2009 Revision of Form 8834
The February 2009 revision of Form 8834, Qualified Electric Vehicle Credit, may be filed
with calendar year 2008 tax returns and for filers who have a carryover of a qualified
electric vehicle credit disallowed due to passive activity limitations. The IRS will also
issue a May 2009 revision of Form 8834 with a new title, Qualified Electric and Plug-In
Electric Vehicle Credit. The May 2009 revision will incorporate the qualified plug-in
electric vehicle credit enacted as part of the American Recovery and Reinvestment Act
of 2009. Fiscal year filers whose 2008 fiscal year ends after February 16, 2009, who
qualify for the plug-in electric vehicle credit must file the May 2009 revision of Form
8834. All other 2008 fiscal year filers may file either revision. More details will be
included in the instructions for the May 2009 revision of Form 8834.
http://www.afdc.energy.gov/afdc/progs/view_ind_fed.cgi?afdc/307/0
http://www.afdc.energy.gov/afdc/progs/view_ind_fed.php/afdc/409/0
http://thomas.loc.gov/cgi-bin/bdquery/L?d111:./list/bd/d111pl.lst:11-12|TOM:/bss/d111query.html|
http://thomas.loc.gov/cgi-bin/bdquery/z?d111:HR00001:|TOM:/bss/d111query.html|
http://thomas.loc.gov/cgi-bin/bdquery/z?d111:HR00001:@@@R|TOM:/bss/d111query.html|
I called IRS again today and talked to the Complx Laws Division about the tax credit for Electric Vehicles.
There might be a new ruling out in November and clearer guidlines on the subject.
Here is a link to the tenative worksheet, I hope it helps not creats more questions!!
It looks like you have to have put your car into service after Fevuary 17, 2009 :sorry:
:cheer2:Here is a link to the new laws set by the federal government pertaining to the 2009 tax year.
Energy Provisions of the American Recovery and Reinvestment Act of 2009
In order for me to qualify I have to build a new ev with my old components, this year.
I need a wrecked saturn sky, LOL:flypig:
I talked to Patrick Kirwan in Washington DC at the Associate of Chief Councel if you want his number contact me and I will provide it to you.
new dawn as in the dawning of a new era
Hi,
Hoping someone can clarify tax ruling.
Some vendors are telling me I have to have delivered in my possesion before 12/31 … other just purchace and give them my money.
They is a backlog of NEV and I am concerned about getting one by year end.
in Oklahoma there is a 50% state tax credit as well as the federal so no one has any in stock and big back order.
Comments welcom. Thanks!
Plug-in Electric Drive Vehicle Credit (Section 1141): The new law modifies the credit for qualified plug-in electric drive vehicles purchased after Dec. 31, 2009. To qualify, vehicles must be newly purchased, have four or more wheels, have a gross vehicle weight rating of less than 14,000 pounds, and draw propulsion using a battery with at least four kilowatt hours that can be recharged from an external source of electricity. The minimum amount of the credit for qualified plug-in electric drive vehicles is $2,500 and the credit tops out at $7,500, depending on the battery capacity. The full amount of the credit will be reduced with respect to a manufacturer’s vehicles after the manufacturer has sold at least 200,000 vehicles.
Plug-In Electric Vehicle Credit (Section 1142): The new law also creates a special tax credit for two types of plug-in vehicles — certain low-speed electric vehicles and two- or three-wheeled vehicles. The amount of the credit is 10 percent of the cost of the vehicle, up to a maximum credit of $2,500 for purchases made after Feb. 17, 2009, and before Jan. 1, 2012. To qualify, a vehicle must be either a low speed vehicle propelled by an electric motor that draws electricity from a battery with a capacity of 4 kilowatt hours or more or be a two- or three-wheeled vehicle propelled by an electric motor that draws electricity from a battery with the capacity of 2.5 kilowatt hours. A taxpayer may not claim this credit if the plug-in electric drive vehicle credit is allowable.
Conversion Kits (Section 1143): The new law also provided a tax credit for plug-in electric drive conversion kits. The credit is equal to 10 percent of the cost of converting a vehicle to a qualified plug-in electric drive motor vehicle and placed in service after Feb. 17, 2009. The maximum amount of the credit is $4,000. The credit does not apply to conversions made after Dec. 31, 2011. A taxpayer may claim this credit even if the taxpayer claimed a hybrid vehicle credit for the same vehicle in an earlier year.
Treatment of Alternative Motor Vehicle Credit as a Personal Credit Allowed Against AMT (Section 1144): Starting in 2009, the new law allows the Alternative Motor Vehicle Credit, including the tax credit for purchasing hybrid vehicles, to be applied against the Alternative Minimum Tax. Prior to the new law, the Alternative Motor Vehicle Credit could not be used to offset the AMT. This means the credit could not be taken if a taxpayer owed AMT or was reduced for some taxpayers who did not owe AMT.