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Getting a new car!! Yayy!!!!

JLRNA is replacing my faulty car with a brand new 2020 I-Pace HSE.

I want to start off by thanking one of the members on this forum. Without his hep, I would not have gotten this result.

My car has spent over 3 months at the dealership and it is no closer to being repaired. After reaching out to JLRNA, they have finally agreed to replace my faulty car with a brand new 2020 I-Pace.
 

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Getting a new car!! Yayy!!!!

JLRNA is replacing my faulty car with a brand new 2020 I-Pace HSE.

I want to start off by thanking one of the members on this forum. Without his hep, I would not have gotten this result.

My car has spent over 3 months at the dealership and it is no closer to being repaired. After reaching out to JLRNA, they have finally agreed to replace my faulty car with a brand new 2020 I-Pace.
Congrats
What kind are you getting now?
 

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Getting a new car!! Yayy!!!!

JLRNA is replacing my faulty car with a brand new 2020 I-Pace HSE.

I want to start off by thanking one of the members on this forum. Without his hep, I would not have gotten this result.

My car has spent over 3 months at the dealership and it is no closer to being repaired. After reaching out to JLRNA, they have finally agreed to replace my faulty car with a brand new 2020 I-Pace.

Congratulations! & good luck with the new one!!!
 

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With anyone that has received a buy back from a purchase in 2019, do you know if you get the federal tax credit on the second one as well? Technically it’s a new purchase ?
 

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Discussion Starter #46
With anyone that has received a buy back from a purchase in 2019, do you know if you get the federal tax credit on the second one as well? Technically it’s a new purchase ?
I believe that you can only take one per year, but I may be mistaken
 

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With anyone that has received a buy back from a purchase in 2019, do you know if you get the federal tax credit on the second one as well? Technically it’s a new purchase ?
There are no restrictions on how many federal tax credits you take. The only requirement is to purchase a qualified vehicle. So with the I-Pace it works out that if you buy 11 of them, the 12th one would be free...
 

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With anyone that has received a buy back from a purchase in 2019, do you know if you get the federal tax credit on the second one as well? Technically it’s a new purchase ?
I believe that you can only take one per year, but I may be mistaken
Thanks all! I was an early adopter so looks like another credit for tax year 2019 since original was 2018.
 

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There are no restrictions on how many federal tax credits you take. The only requirement is to purchase a qualified vehicle.
Are you suggesting that a buyback vehicle is eligible for the federal credit, if it otherwise qualified at the time of purchase (e.g. not a lease)? I'm asking as I'm not a tax accountant.

Some states (I believe CA?) have length of ownership requirements for the state credit, IIRC.
 

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The Fed has no restrictions that I know of except by MFR production numbers. We have applied for two in a single year.

California has lots of restrictions. 2 per lifetime, you must keep car 30 months, income <$150k ($300k for married), no cars over $60k, must be on The List, $2000 for EV, $4500 for H2, $1000 for PHEV which must have >35mi AER, low income gets $2500 more, and some others.
 

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There are no restrictions on how many federal tax credits you take. The only requirement is to purchase a qualified vehicle.
Are you suggesting that a buyback vehicle is eligible for the federal credit, if it otherwise qualified at the time of purchase (e.g. not a lease)? I'm asking as I'm not a tax accountant.

Some states (I believe CA?) have length of ownership requirements for the state credit, IIRC.
Federal tax credit is pretty simple and straightforward. I don’t think you need to be specially trained to understand it. There are no caveats as to length of ownership or number of vehicles, simply requiring you to be the first registered owner
 

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Warning! Buyback notice:

JLR asks you to submit bank records on the loan. Make SURE to tell the bank this is for a Lemon Law case. JLR just informed me we did not submit the correct Bank of America records. We simply asked Bank of America to send us the loan statements, but that is not the right one. So we called the bank again, told them it was California Lemon Law, and they will fax the statements over. You can also chose to receive them in the mail. This adds over two weeks to the process.
 

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Federal tax credit is pretty simple and straightforward. I don’t think you need to be specially trained to understand it. There are no caveats as to length of ownership or number of vehicles, simply requiring you to be the first registered owner
I tend to agree with you, however, some of the requirements in the form instructions are written in present tense (e.g. "You are the owner of the vehicle" and "You use the vehicle primarily in the United States"). For buybacks, these things are no longer true on or before the date the return is filed. That may be open to interpretation, or maybe it doesn't matter.

https://www.irs.gov/pub/irs-pdf/i8936.pdf
 
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