IRS Form 8911 Charging Station $1000 Deduction

[HD172]

I just received this email.

Did you install an EV home charging station in 2012 or have plans to install one in 2013? We have some great news for you. The recent fiscal cliff deal passed by Congress includes tax credits for purchase and installation of an electric vehicle charging station. The Section 30C credit for Alternative Fuel Vehicle Refueling Property includes a credit of up to $1,000 for purchase and installation of a charging station for personal use.

Additionally, Section 30C includes a 30 percent credit, capped at $30,000 for business/investment use per site. This means that any ChargePoint customer who installed EV charging stations in 2012 or who plans to install EV charging stations in 2013 may qualify for up to a $30,000 tax credit per site. So tell your employer or favorite retailer (hint, hint).

For more information, please visit:

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

And download:

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

Please consult with your tax advisor to determine your eligibility.

Spread the EV goodness and share this email with people you know in the EV community so they can take advantage of this fantastic opportunity.

To view this information on our web site, click here.

Recommend a Place to Charge Your Car

Are you able to charge your vehicle at work? If so, are there enough charging stations available for you and your colleagues?

Does your favorite store offer EV charging? Are there parking lots you frequent that you wish had an EV charger?

Let ChargePoint help you get an EV charging station installed at any location. Email us at [email protected] with the following information:
Location Name (e.g. company, retailer, parking facility, etc.)
Address
Contact Name
Oh, and one more thing... happy EV driving.

Sincerely,

Team ChargePoint

 

[Dsinned]

I think it is like talking to myself when I mention these sort of incentives to my employer. I tried (unsuccessfully) several times last year; including referring to Chargepoint's "free" charging station promotion that expired on October 15th. I practically filled out the application, but never got so much of a, "Okay, thanks, that sounds interesting, I'll look into it and see if it saves the company money". My employer even has numerous reserved, "low emission vehicle", parking spaces, but no way to charge any plug-in EVs; not even an accessible 120Vac outlet somewhere near the building, although there are plenty of places where a few could be readily installed (on several lamp posts, for example, in the parking lot).

Oh well, "you can lead a a horse to water, . . . " :roll:

Thanks HD172 for posting this info nevertheless. I'm sure there are many here that can take advantage of this newly offered tax credit on our personal income taxes starting last year. Also, I will forward it to one of my Employer's SVPs, who also happens to be the Facilities Manager and see what happen. But, I'm not holding my breath.

Here are some Frequently Asked Questions (FAQs) about the Alternative Fuel Vehicle Refueling Property federal tax credit on found on a related website.

(Disclaimer: The FAQ below represents the best information available at this time. Please consult your tax professional to ensure accuracy of your particular tax situation).

1. Does the Alternative Fuel Vehicle Refueling Property federal tax credit cover the cost of installation, such as construction (trenching, conduit, wire, etc.) or just the charging station equipment? ANSWER: Cost of installation is included.

2. If a property owner decides to install charging stations at multiple locations, are they eligible for multiple tax credits up to the $30K max for “each” commercial location ($1000 max for each residential location) or an aggregate total of $30k/$1K for “all” locations combined? ANSWER: The credit is allowed for the property placed in service at EACH LOCATION where the property is placed. The property would also be available for a Sec. 179 deduction and/or available for the credit or both assuming the Section 179 limits are met. If tax liability of the business entity is less that credit, the credit is available for carryback (one year) or carry forward (20 years), but no refunds or rebates. For the personal credit of $1,000, if it is NOT used in the year in which the equipment is installed, it is LOST, no carryback, carryover, or tax refunds or rebates.

3. Can only taxable entities apply for the Alternative Fuel Vehicle Refueling Property federal tax credit (excluding municipalities, non-profits, and other non-taxable entities)? ANSWER: Normally, this is true. However, non-taxable entities can negotiate with a partner/vendor, if the vendor qualifies for the tax credit. The vendor can then pass on the savings to the non-profit as a reduction in cost of equipment and installation. A “letter of understanding” between the vendor and non-tax entity is highly recommended as well as confirmation from their local tax/accounting expert.

4. Can the benefit of this federal tax credit be carried over if the taxable entity reports a loss? ANSWER: Since the provision is a reduction of the tax liability, qualified entities that have losses can carryback and carryover the credits.

 

[JBHorner]

Be careful with the Chargepoint charger and the Rav4 EV at this point. They're not compatible, and have issues. (Erroneous plug-out detection, and charging system faults that must be cleared periodically on the vehicle.) This is the CT500 model.

Joel

 

[Dsinned]

For everyones information, I read this on the internet somewhere . . .

The Form 8911 used to claim the Alternative Fuel Vehicle Refueling Property Credit and the Form 8936 used to claim the $7500 Qualified Plug-in Electric Drive Motor Vehicle Credit for the 2012 tax year will not be available for filing until late February or early March 2013.

http://www.irs.ustreas.gov/uac/Newsroom/List-of-IRS-forms-that-1040-filers-can-begin-filing-in-late-February-or-into-March-2013

 

[MonicaH]

Thanks for that details. Anyway, in his 12th and last State of the area address, New York City Mayor Bloomberg said he wants the city to be a leader in clean technology. As part of that effort, he wants to add 10,000 new electric vehicle charging stations to the city over the next seven years. Get additional information here: New EV Charging Stations by 2020.

 

[edmc]

The Form 8911 used to claim the Alternative Fuel Vehicle Refueling Property Credit and the Form 8936 used to claim the $7500 Qualified Plug-in Electric Drive Motor Vehicle Credit for the 2012 tax year will not be available for filing until late February or early March 2013.

IRS Form 8911
IRS Form 8936

 

[edmc]

I should have included the other two useful links I have for those of us in CA:

CA Rebate Application
CA Carpool Lane Sticker Application