30% charging equipment credit renewed for 2021

[RyZt]

Some one noticed that the covid stimulus bill includes renewal of 30% EVSE credit (IRS 8911) for 2021.

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[Kamuelaflyer]

Now, if only the current occupant of 1600 Pennsylvania Avenue would actually sign the Bill,

 

[RyZt]

Now, if only the current occupant of 1600 Pennsylvania Avenue would actually sign the Bill,

The bill was signed into law earlier today according to latest news

 

[Kamuelaflyer]

The bill was signed into law earlier today according to latest news

Good news, thanks.

 

[TheSeg]

I busted my butt to get in for the deadline, but I'm not mad about the extension. I now have a whole year to get other EVSE's installed in other places!

 

[shutterbug]

I busted my butt to get in for the deadline, but I'm not mad about the extension. I now have a whole year to get other EVSE's installed in other places!

Pretty sure that the credit is limited to your primary home:

If the property isn’t business/investment use property, the property must be installed on property used as your main home ​

https://www.irs.gov/instructions/i8911

 

[TheSeg]

Pretty sure that the credit is limited to your primary home:

If the property isn’t business/investment use property, the property must be installed on property used as your main home ​

https://www.irs.gov/instructions/i8911

That's when claiming on personal use (Part III on Form 8911) which has a cap of $1,000 paid out. Part II of the form is for business use, which has a cap of $30,000 paid out.

I should note that the places I want to have EVSE's are both friends' homes I visit and businesses I'll visit. (When it's safe to travel, of course.)

 

[shutterbug]

That's when claiming on personal use (Part III on Form 8911) which has a cap of $1,000 paid out. Part II of the form is for business use, which has a cap of $30,000 paid out.

I should note that the places I want to have EVSE's are both friends' homes I visit and businesses I'll visit. (When it's safe to travel, of course.)

If you don't own those properties, you can't get the credit. Visiting them doesn't count.

 

[TheSeg]

If you don't own those properties, you can't get the credit. Visiting them doesn't count.

… who said I would get the cash credit for other people's install? I never claimed that.

Even with the work I did to get the EVSE installed in my apartment, the landlord gets the 30% as the landlord paid for the install. I brought all the documentation of the credit to the landlord's attention, who then approved the project as the costs were reduced.

What I'm saying is that with IRS 8911 back in play, my case for convincing others to do the work within next year is easier.

 

[shutterbug]

… who said I would get the cash credit for other people's install? I never claimed that.

Even with the work I did to get the EVSE installed in my apartment, the landlord gets the 30% as the landlord paid for the install. I brought all the documentation of the credit to the landlord's attention, who then approved the project as the costs were reduced.

What I'm saying is that with IRS 8911 back in play, my case for convincing others to do the work within next year is easier.

fair enough

 

[Ponypower50]

Sorry, I need clarification:

So if I buy and have installed a Ford charger, I would get a 30% credit on the equipment.

 

[generaltso]

Sorry, I need clarification:

So if I buy and have installed a Ford charger, I would get a 30% credit on the equipment.

And the installation, up to maximum tax credit of $1000. But it doesn’t have to be the Ford charger.

 

[Ponypower50]

Thank You

 

[RyZt]

Sorry, I need clarification:

So if I buy and have installed a Ford charger, I would get a 30% credit on the equipment.

I'm not a lawyer/accountant. As far as I know, installing a 14-50 outlet (or any outlet, power panel, etc) intended primarily for EV charging also qualifies. You don't have to install a hard-wired EVSE.

 

[timbop]

I'm not a lawyer/accountant. As far as I know, installing a 14-50 outlet (or any outlet, power panel, etc) intended primarily for EV charging also qualifies. You don't have to install a hard-wired EVSE.

Correct. The electrician's cost (or raw materials cost if you're doing it yourself) plus the cost of the EVSE itself would be eligible for the 30% deduction, up to a maximum deduction of $1000.

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