Congress retroactively extends Federal tax credit for home EV chargers, etc.

Discussion in 'Clarity' started by Texas22Step, Dec 18, 2019.

  1. petteyg359

    petteyg359 Active Member

    Too bad they shat upon solar while giving huge credits to burnable fuel.
     
    Valente likes this.
  2. Kerbe

    Kerbe Active Member

    Any idea what IRS form this will require?
     
    Texas22Step likes this.
  3. Texas22Step

    Texas22Step Active Member

    Nope, not yet. The article talks about probably having to file an amended return for the year you put (for example) an EV charger in service, and I am guessing the IRS will publish some guidance on how they want that to happen, with forms, etc. I will try to update this post further when further info is available, as I hope to claim the EV charger credit for a 2018 installation myself.
     
  4. DucRider

    DucRider Well-Known Member

    Form 8911
    https://www.irs.gov/pub/irs-pdf/f8911.pdf

    To claim for 2018, an amended return will be required. 2019 installs will (should?) be able to claim when filing.
     
  5. Texas22Step

    Texas22Step Active Member

    All - please remember that, like the EV purchase tax credit, this credit is highly likely to apply to tax liability in the year of EVSE installation only, meaning that if you don't have enough tax liability to absorb the full credit it is lost -- no credit carry-forwards or carry-backs.
     
    4sallypat likes this.
  6. Lowell_Greenberg

    Lowell_Greenberg Active Member

    Excellent information. But retroactively approving this means that the intent was defeated for earlier years, namely to encourage install of EV chargers and EV car adoption.

    Sent from my SM-G975U using Tapatalk
     
    jorgie393 likes this.
  7. Phil_Meyers

    Phil_Meyers Member

    Does this apply to the home chargepoint charger I bought but installed myself?
     
  8. petteyg359

    petteyg359 Active Member

    IIUC, it applies to both the purchase of the charger and any installation costs, whether that is an electrician or just a handyman attaching it to a wall and a preexisting plug socket. Might have to bill yourself some labor time :p
     
    4sallypat likes this.
  9. Kerbe

    Kerbe Active Member

    Thanks - they haven't yet released ANY of the 2019 forms - for car purchase or for EVSE installation. I guess we'll just have to wait and hope...
     
  10. dana

    dana Member

    From Jan 15, 2020 IRS publication regarding Form 8911:
    "This form, instruction, or publication is being revised to reflect legislation enacted December 20, 2019. The updated revision will be posted here as soon as possible. We apologize for the delay and inconvenience. The most recently issued final revision begins on the next page, but, again, is being updated to reflect recent legislation. Early release drafts of forms and instructions (and some pubs) are posted before the final release at IRS.gov/DraftForms (note that they remain there after the final release is. The most recently issued final revision of forms, instructions, and publications is posted at www.irs.gov/LatestForms and at www.irs.gov/AllForms, which has revisions for all years each form, instruction, or pub has been issued."
     
    DaleL likes this.
  11. Tek_Freek

    Tek_Freek Active Member

    I wouldn't mind a couple of hours st the rate I was making before I retired.
     
  12. coutinpe

    coutinpe Active Member

    As per today, TurboTax still has not implemented the EV or EVSE tax credit option "in spite of Congress having approved" it. The message said they will let me know as soon as it becomes available.
     
  13. DucRider

    DucRider Well-Known Member

    The IRS has to complete and release the appropriate forms before tax software companies can implement them.
     
    Texas22Step likes this.
  14. S L .

    S L . Member

    Which section in turbo tax is the charger credit under? I only see the ev credit section.


    Sent from my iPhone using Inside EVs
     
  15. DucRider

    DucRider Well-Known Member

    Not yet in TT.
    The IRS has to complete and release the appropriate forms before tax software companies can implement them.
     
  16. K8QM

    K8QM Active Member

    Weirdly enough, I pulled up my 2018 TT, ran the updates and there is a place for EV chargers in there but running an amended return still did not change my tax liability/refund.

    geo
     
  17. Texas22Step

    Texas22Step Active Member

    See post #6 above in this thread -- that MIGHT answer your question..., but it also could be that 2018 TT just is not updated yet to grant a credit for a 2018 EVSE installation. As @DucRider says (above in post #16), the software companies are unable to implement anything until the IRS updates and issues updated forms, which to my knowledge it has not completed yet for the Dec 2019 tax law changes passed by Congress.
     
  18. DucRider

    DucRider Well-Known Member

    The 2018 form 8911 was released by the IRS last year, but contained instructions that the credit had expired. They will need to update TT 2018 to implement it - once again only after the IRS releases an updated form. I haven't sorted thru to see what other tax law changes were enacted in December that the IRS has to implement, how many forms it affected, and for how many years.

    From the 2018 8911 instructions:
    Caution: The form, instruction, or publication you are looking for begins on the next page. But first see the important information below.
    This form, instruction, or publication is being revised to reflect legislation enacted December 20, 2019. The updated revision will be posted here as soon as possible. We apologize for the delay and inconvenience. The most recently issued final revision begins on the next page, but, again, is being updated to reflect recent legislation.
    https://www.irs.gov/pub/irs-pdf/i8911.pdf
     
  19. Rajiv Vaidyanathan

    Rajiv Vaidyanathan Active Member

    This is great information. Would really appreciate an update on this thread once anyone notices that the form has been updated for TT. I installed a home charger in 2018 (when I bought my Clarity) and a credit for that install would be fantastic free money.
     

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