Unscheduled 2021 rolled over to a 22

[ChasingCoral]

My original order from 04/21/21 still has a production date of 10/25/21 and is still 2021.

Right. You were already scheduled.

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[SigSauer]

Our MME AWD ER in Dark Matter Gray was ordered on 8 August. Still no build date schedules. If our 2021 MME is moved to 2022, what happens to the $7,500 tax credit?

 

[silverelan]

Our MME AWD ER in Dark Matter Gray was ordered on 8 August. Still no build date schedules. If our 2021 MME is moved to 2022, what happens to the $7,500 tax credit?

Your delivery date dictates when you can claim the federal $7,500 tax credit. If you take delivery by December 31st of 2021, you can get the tax credit on your taxes in April (or sooner). If however, you take delivery on January 1st or later of 2022 then you will have to wait until April 2023 to get your tax credit.

Some people will target Q3 or Q4 deliveries so that they minimize the amount of time they float the $7,500.

 

[TTT]

Your delivery date dictates when you can claim the federal $7,500 tax credit. If you take delivery by December 31st of 2021, you can get the tax credit on your taxes in April (or sooner). If however, you take delivery on January 1st or later of 2022 then you will have to wait until April 2023 to get your tax credit.

Well... Not always. It's the contracted purchase date, not the delivery date. Granted usually those are the same.

In December 2016 I was waiting for my '17 Bolt to come in, I had the VIN, and I really wanted to take the deduction on my '16 taxes in April of 17. The car was then supposed to arrive around January 10.

Rydell Chevrolet allowed me to come in on new years eve and sign and date the purchase contract for that day, but we did a due sheet that allowed me to cancel the sale until certain items were completed. Those included an inspection of the actual vehicle, and the ability to add to the due sheet any issues I had with the car after the inspection and test drive. Until those were done the paperwork could be cancelled, nothing was sent to the DMV or Chevrolet, and nothing was sent in to the finance department, it was just held in limbo.

Meanwhile, a friend of mine who had done this kind of thing before was doing exactly the same thing with his Bolt purchase 25 miles away at Community Chevrolet - same basic terms.

Both of our transactions were dated Jan 31, 2016.

His car came in in Mid January. Mine was delayed until early February, but in both cases we accepted the cars and released the paperwork for processing, and the first payment was due like 45 days later for me - he paid cash.

All totally legal, we both did our tax credits on our 16 taxes instead of 17. The only difference was that Community Chevrolet did him a solid and applied for his carpool sticker for him on New Years Eve, my dealer did not. I waited a little longer to eventually get my stickers in the mail but the way the sticker renewals worked out I had stickers for a few years longer than he did - he missed out on the red stickers by a day.

If you have a VIN, and a delivery date that is coming up you can try talking to your dealer about dating the paperwork 12/31. In 2016, in California, it was legal enough that two Chevrolet dealers were happy to do it on the same day. YMMD.

 

[ChuckA]

Well... Not always. It's the contracted purchase date, not the delivery date. Granted usually those are the same.

In December 2016 I was waiting for my '17 Bolt to come in, I had the VIN, and I really wanted to take the deduction on my '16 taxes in April of 17. The car was then supposed to arrive around January 10.

Rydell Chevrolet allowed me to come in on new years eve and sign and date the purchase contract for that day, but we did a due sheet that allowed me to cancel the sale until certain items were completed. Those included an inspection of the actual vehicle, and the ability to add to the due sheet any issues I had with the car after the inspection and test drive. Until those were done the paperwork could be cancelled, nothing was sent to the DMV or Chevrolet, and nothing was sent in to the finance department, it was just held in limbo.

Meanwhile, a friend of mine who had done this kind of thing before was doing exactly the same thing with his Bolt purchase 25 miles away at Community Chevrolet - same basic terms.

Both of our transactions were dated Jan 31, 2016.

His car came in in Mid January. Mine was delayed until early February, but in both cases we accepted the cars and released the paperwork for processing, and the first payment was due like 45 days later for me - he paid cash.

All totally legal, we both did our tax credits on our 16 taxes instead of 17. The only difference was that Community Chevrolet did him a solid and applied for his carpool sticker for him on New Years Eve, my dealer did not. I waited a little longer to eventually get my stickers in the mail but the way the sticker renewals worked out I had stickers for a few years longer than he did - he missed out on the red stickers by a day.

If you have a VIN, and a delivery date that is coming up you can try talking to your dealer about dating the paperwork 12/31. In 2016, in California, it was legal enough that two Chevrolet dealers were happy to do it on the same day. YMMD.

Saying it’s totally legal is not correct. What you mean is you weren’t audited. As you noted your deal was revocable. The sale clearly took place in 2017. BTW, the date of the purchase agreement is not relevant. The date on the bill of sale or financing paperwork controls.

 

[KZ6e1e]

Our MME AWD ER in Dark Matter Gray was ordered on 8 August. Still no build date schedules. If our 2021 MME is moved to 2022, what happens to the $7,500 tax credit?

Wasn't there a 24+/28+ week delivery estimate when you ordered. Not sure why you expected to get delivery in 2021.

 

[Kamuelaflyer]

Probably just the charging increases in the PowerUp

I remember those! Whatever became of them? They were sort of cool.

 

[Dancefreak]

Our MME AWD ER in Dark Matter Gray was ordered on 8 August. Still no build date schedules. If our 2021 MME is moved to 2022, what happens to the $7,500 tax credit?

It becomes a 2022 tax year credit and the details on how that works will almost definitely be changing in some way. It could become a point of sale advance on your tax credit so you won't have to float the money at all. Or not. There are also proposals for an income ceiling to be eligible which range from 400K down to 100K. None of that will be clear for a while.

 

[TTT]

Saying it’s totally legal is not correct. What you mean is you weren’t audited. As you noted your deal was revocable. The sale clearly took place in 2017. BTW, the date of the purchase agreement is not relevant. The date on the bill of sale or financing paperwork controls.

I should say the dealer assured us it was all legal. Everything was dated 2016, including the bill of sale. I just did not have physical possession of the car. I agree it was a grey area, but I made a point of saving the email correspondence, and every single paper I had was dated by the dealer as 2016.

Just this weekend Tesla did a contactless delivery for a friend that actually completed the paperwork on his model Y and paid nearly a week before. All of the paperwork was dated the day he signed (virtually), not the day they dropped off the car.

There is more going on there than I claim to understand, but the Dealer took the bulk of the liability and my CPA signed off on it so I wasn't too worried. Things may have changed since then - I'm just suggesting that there is a grey area that can be discussed with your dealer and tax guy and anyone here might choose to chart their own course on this one depending on the answers they get.

I think the bigger ways to get in trouble are to sign for a car you have never seen, that you are not yet insuring, etc. There is surely a lot that can go wrong...

And as to the date the deal clearly took place - The State of California did not see it that way with my friends Bolt - when he appealed to Sacramento and said he didn't get possession of the car until Jan 2017 they told him too bad, he purchased it in 2016 per the contract, and applied for the carpool stickers that day. If he had officially completed the transaction in 2017 he could have gotten the Red carpool stickers good until the end of this year.

Similarly Chevrolet ended the 3/36 warranty on my car on 12/31 - not the anniversary of when I took possession.

Chevy and California have voted it was '16 - I'm hoping if you are with the IRS that you aren't coming for me - or that if you are - maybe a government shutdown would be ok after all! Now will the Statute of Limitations on this one run out in '23, or 24? Hmmm?

 

[ChuckA]

I should say the dealer assured us it was all legal. Everything was dated 2016, including the bill of sale. I just did not have physical possession of the car. I agree it was a grey area, but I made a point of saving the email correspondence, and every single paper I had was dated by the dealer as 2016.

Just this weekend Tesla did a contactless delivery for a friend that actually completed the paperwork on his model Y and paid nearly a week before. All of the paperwork was dated the day he signed (virtually), not the day they dropped off the car.

There is more going on there than I claim to understand, but the Dealer took the bulk of the liability and my CPA signed off on it so I wasn't too worried. Things may have changed since then - I'm just suggesting that there is a grey area that can be discussed with your dealer and tax guy and anyone here might choose to chart their own course on this one depending on the answers they get.

I think the bigger ways to get in trouble are to sign for a car you have never seen, that you are not yet insuring, etc. There is surely a lot that can go wrong...

And as to the date the deal clearly took place - The State of California did not see it that way with my friends Bolt - when he appealed to Sacramento and said he didn't get possession of the car until Jan 2017 they told him too bad, he purchased it in 2016 per the contract, and applied for the carpool stickers that day. If he had officially completed the transaction in 2017 he could have gotten the Red carpool stickers good until the end of this year.

Similarly Chevrolet ended the 3/36 warranty on my car on 12/31 - not the anniversary of when I took possession.

Chevy and California have voted it was '16 - I'm hoping if you are with the IRS that you aren't coming for me - or that if you are - maybe a government shutdown would be ok after all! Now will the Statute of Limitations on this one run out in '23, or 24? Hmmm?

The difference with your friend’s Tesla is he paid for the vehicle. Maybe the deposit can be proof enough. I’m glad I didn’t need to try your suggested process. I’m not IRS, just a 45 year practicing company Controller. My experience with IRS audits were unpleasant.

 

[generaltso]

I should say the dealer assured us it was all legal. Everything was dated 2016, including the bill of sale. I just did not have physical possession of the car. I agree it was a grey area, but I made a point of saving the email correspondence, and every single paper I had was dated by the dealer as 2016.

I wouldn't take legal or tax advice from a dealer. The IRS states that the vehicle needs to be put in service in the calendar year. Doesn't seem very grey to me.

And as to the date the deal clearly took place - The State of California did not see it that way with my friends Bolt - when he appealed to Sacramento and said he didn't get possession of the car until Jan 2017 they told him too bad, he purchased it in 2016 per the contract, and applied for the carpool stickers that day. If he had officially completed the transaction in 2017 he could have gotten the Red carpool stickers good until the end of this year.

So your friend went out of his way to game the system so that he could get the tax credit early, but then argued that the same date shouldn't apply for the state? Talk about wanting to have your cake and eat it too.

 

[Tarynem]

Our MME AWD ER in Dark Matter Gray was ordered on 8 August. Still no build date schedules. If our 2021 MME is moved to 2022, what happens to the $7,500 tax credit?

I ordered a Premium RWD Dk Matter Gray on 8/20/21. At the time the site said 24 weeks, which landed me in early February. I don't expect for the car to be scheduled until maybe December, but that would most definitely put the tax credit in 2022 tax year filings. My dealer said the car may come before end of this year, but I doubt that.

 

[BTRYPWRDPONY]

I should say the dealer assured us it was all legal. Everything was dated 2016, including the bill of sale. I just did not have physical possession of the car. I agree it was a grey area, but I made a point of saving the email correspondence, and every single paper I had was dated by the dealer as 2016.

Just this weekend Tesla did a contactless delivery for a friend that actually completed the paperwork on his model Y and paid nearly a week before. All of the paperwork was dated the day he signed (virtually), not the day they dropped off the car.

There is more going on there than I claim to understand, but the Dealer took the bulk of the liability and my CPA signed off on it so I wasn't too worried. Things may have changed since then - I'm just suggesting that there is a grey area that can be discussed with your dealer and tax guy and anyone here might choose to chart their own course on this one depending on the answers they get.

I think the bigger ways to get in trouble are to sign for a car you have never seen, that you are not yet insuring, etc. There is surely a lot that can go wrong...

And as to the date the deal clearly took place - The State of California did not see it that way with my friends Bolt - when he appealed to Sacramento and said he didn't get possession of the car until Jan 2017 they told him too bad, he purchased it in 2016 per the contract, and applied for the carpool stickers that day. If he had officially completed the transaction in 2017 he could have gotten the Red carpool stickers good until the end of this year.

Similarly Chevrolet ended the 3/36 warranty on my car on 12/31 - not the anniversary of when I took possession.

Chevy and California have voted it was '16 - I'm hoping if you are with the IRS that you aren't coming for me - or that if you are - maybe a government shutdown would be ok after all! Now will the Statute of Limitations on this one run out in '23, or 24? Hmmm?

I would be careful, what you have said and posted online is teetering on the edge of tax fraud. Your claiming something you do not possess. The IRS does not look kindly on things like this- the dealer should know better than to even entertain anything like this. Just my opinion dealing with the IRS for years.

 

[AdamGilles12]

I was just notified by my dealer that my order, (placed on April 27, 2021) with original build date of Nov 8, 2021, will now be a 2022 with ETA around February. Little disappointed but in the end, maybe I will get more mileage in the battery. He also said I would get $750 off for the delay.

 

[RickMachE]

Our 5/29 order will be a 2022 at the same price per our dealer.

Order guide isn't out to compare features.

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