US Federal Tax Credits - Page 2 - Jaguar I-Pace EV400 Forum
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post #11 of 24 (permalink) Old 03-05-2019, 02:21 PM
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Originally Posted by Time2Roll View Post
You will recover the federal credit against your federal tax bill when you file with the IRS.
For clarification, you have to have a minimum tax liability of $7500 to get the full credit. A number of people have a lower tax liability, such as some retired folks (so I've heard). There are a few things you can do to bring it up if you should desire to, like taking an extra IRA distribution. Consult a CPA if you're unsure.

For some the AMT also figures in. I have zero experience with AMT. I do have and use a CPA. My taxes get complicated and math makes me sleepy.
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Last edited by Mister Dave; 03-05-2019 at 02:24 PM.
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post #12 of 24 (permalink) Old 03-05-2019, 07:28 PM
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Originally Posted by Mister Dave View Post
For clarification, you have to have a minimum tax liability of $7500 to get the full credit. A number of people have a lower tax liability, such as some retired folks (so I've heard). There are a few things you can do to bring it up if you should desire to, like taking an extra IRA distribution. Consult a CPA if you're unsure.

For some the AMT also figures in. I have zero experience with AMT. I do have and use a CPA. My taxes get complicated and math makes me sleepy.
Got my FULL $7,500 Tax Credit for 2018...yep, that worked.

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post #13 of 24 (permalink) Old 03-05-2019, 08:48 PM
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Thanks to all above for the tips and advise.Will look into all the rebates and hope to get the Federal Tax breaks when doin my taxes for 2019, Both cars were bought and not leased this year.
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post #14 of 24 (permalink) Old 03-05-2019, 09:53 PM
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Thanks to all above for the tips and advise.Will look into all the rebates and hope to get the Federal Tax breaks when doin my taxes for 2019, Both cars were bought and not leased this year.
Also look into the rebates/tax credits for installing your level 2 or better EVSE. I picked up some of that too, including the electrical work it took to get it set up and the L2 EVSE itself. For example:

30% Federal Tax Credit for Purchase & Installation of CC EVSE

More useful information on this page:

EVSE Rebates and Tax Credits, by State

In your specific case this site should be useful:

https://www.randolphemc.com/content/revup

Last edited by Mister Dave; 03-05-2019 at 10:02 PM.
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post #15 of 24 (permalink) Old 03-06-2019, 11:25 AM
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The "owner" gets the tax credit. If you purchase, that's you. If you lease, that's the lessor. It's up to the lessor whether or not they pass any, or all, of the tax credit on to the lessee as an "incentive". I know from my three EV leases from BMW that they gave the full $7500 for the i3, but only half of the amount on my two PHEV's as "incentives". Dealer has no input on this, it's JaguarUSA's call.
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post #16 of 24 (permalink) Old 03-06-2019, 10:55 PM
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Federal Jag Quals

Here is the shortcut to the cars that are qualified for the rebate. It is good to have for your tax person. Me in my case. IRC 30D New Qualified Plug-In Electric Drive Motor Vehicle Credit


https://www.irs.gov/businesses/irc-3...vehicle-credit
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post #17 of 24 (permalink) Old 03-07-2019, 12:18 AM
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Here is the shortcut to the cars that are qualified for the rebate. It is good to have for your tax person. Me in my case. IRC 30D New Qualified Plug-In Electric Drive Motor Vehicle Credit


https://www.irs.gov/businesses/irc-3...vehicle-credit
Above post should say "credit" not "rebate"
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post #18 of 24 (permalink) Old 03-07-2019, 10:29 AM Thread Starter
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Originally Posted by Mister Dave View Post
Also look into the rebates/tax credits for installing your level 2 or better EVSE. I picked up some of that too, including the electrical work it took to get it set up and the L2 EVSE itself. For example:

30% Federal Tax Credit for Purchase & Installation of CC EVSE

More useful information on this page:

EVSE Rebates and Tax Credits, by State

In your specific case this site should be useful:

https://www.randolphemc.com/content/revup
I don't see where this EVSE Federal tax credit is applicable for tax year 2018?

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post #19 of 24 (permalink) Old 03-07-2019, 11:25 AM
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I don't see where this EVSE Federal tax credit is applicable for tax year 2018?
It's not. You had to do it "back when". I did.
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post #20 of 24 (permalink) Old 03-07-2019, 03:31 PM
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Originally Posted by ted99 View Post
It's not. You had to do it "back when". I did.
Dang, I forgot about that. Sorry.

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Congress has retroactively renewed the Alternative Fuel Infrastructure Tax Credit, which provides a tax credit of 30% of the purchase and installation cost of electric vehicle charging stations. The tax credit is now valid for all 2017 projects.
We'll have to wait and see if they do it again.

There's still the state incentives where applicable. My state never had them, and they discontinued the EV rebate too right after I got mine.
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