Can you buy 2 EV and get state and federal assume you owe enough to get both?

[dannieboiz]

Just purchased a Honda Clarity, about to buy another. We do pay more than 20k in taxes would we qualify for the full credit on both vehicles?

 

[John Weng]

Hi Everyone,
I'm new to the community. I just purchased a Chevy Volt 2018 at exactly 30K on 3/22, right before the EV credit expired.

I have a few questions. Like how do you post a new topic here?
I got the Volt, not because I don't believe in future of EV, but I still see some barriers to going full electric.

My experience has been great so far, however, I like some input community where to find public EV charging locations. Here in DC (I live in Northern Virginia), parking is very tough find or/and very expensive. Street parking is cheap, while the garage is expensive. Many charging station are only located in expensive garage. For me I find it hard to justify going to these garages vs paying for gas. I get that electricity is cheaper than gas, but the limit of these saving is more than off set by these expensive garage fees in downtown area.

I am fine in my home city, but I don't understand how EV owners can go park in these expensive garages so they can charge their car when not at their home city. Please comment.

 

[interestedinEV]

I think you should contact an accountant or tax advisor. From my limited knowledge, there is no annual maximum for this and so there should be no issue, especially as this deduction cannot be carried to the next year, so IRS should allow it. However, I am not an accountant or tax expert, and hence this is my view, not based on actual knowledge of IRS code

 

[interestedinEV]

Just looked at the form 8936 and guess what. It has 2 columns for 2 vehicles. You do not have to fill an additional form, you can do them both on one form. So while I would still recommend you talk to an accountant, it seems pretty clear that you can take credit for two EVs in the same year. Again remember this is for 2018, in 2019 things can change.

.

 

[Pushmi-Pullyu]

So far as I know, there is no limit to the number of EVs for which you could apply for tax credit in the same year. Of course, you're limited to not getting back more in tax credits than you pay in taxes for the year.

Banks benefit from the tax credit all the time, if you finance leasing an EV through the bank. Some banks will pass along the tax credit to the lessee, but others won't and keep the benefit for themselves. I don't know, but I would guess that one bank could benefit from the tax credit for several loans in the same year.

​

 

[Pushmi-Pullyu]

I have a few questions. Like how do you post a new topic here?

1. Click on the "Forums" link at the top, to display the various forum categories.

2. Click on the category you think is most appropriate for your new topic.

3. Click on the "Post New Thread" link at the right; it's highlighted in yellow.

​