VIN decoder & Tax Credit?!

[generaltso]

Chucks.
Forgot about that part, it needs to predate the signing of the IRA.
Thank you.

Keep your fingers crossed for delivery before the end of 2022.

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[RickMachE]

From 8936 clearly request the VIN of the purchased vehicle.

https://www.irs.gov/pub/irs-pdf/f8936.pdf

That's the form for filing 2021's taxes. No such form exists for filing 2022s taxes YET. I agree they are likely to ask for VIN.

 

[dmastro]

Interesting. I have a higher than usual deposit in right now ($1,500), but that's not 5% of my purchase price.

Is that 5% of the Invoice price (msrp, options, destination + delivery), or 5% of the final price (msrp, options, destination + delivery, Sales Tax, Registration, etc.)?

This suggests to me that more of a tighter sales contract could be drafted up with the dealer and I could up the deposit amount to this full 5% (counting my $1,500 deposit), state that it is a binding sales contract pending arrival of the vehicle, and be in compliance against 2022 FY.

What do you think?

You didn't ask me, but I'll chime in anyway and suggest you consult with your tax accountant. None of us here knows for certain.

 

[Kafka]

You didn't ask me, but I'll chime in anyway and suggest you consult with your tax accountant. None of us here knows for certain.

What if I told you that I know this is the Internet, that I know that I should take everything with a grain of salt, but that 2 adults can discuss or debate here whether the generalities of something could work, and that I already got what I wanted from that conversation, without it constituting a professional accountant/client relationship.

People on this forum are advising others on what aftermarket tires to put on their GTs for high speed driving, and I don't see you jumping in and saying that only a licensed mechanic, the dealer or manufacturer should be able to tell them that ?

In other words, chill.

And good luck picking up the phone to a random tax accountant and asking them their read on the various EV incentive laws or even how they interact with each other during this transitory period or after, when it would likely be their first inquiry of the sort.

In my area, dealers don't know, accountants don't know, it's all so new to everybody and so far very few customers asking for the information.

 

[Todd44]

From 8936 clearly request the VIN of the purchased vehicle.

https://www.irs.gov/pub/irs-pdf/f8936.pdf

Rev Jan 2022, that’s not the one for 2022 taxes, that’s for 2021 taxes. When the law was completely different. Again, not saying they won’t leave something similar in place, and the webinar could be wrong.

 

[Polar]

I am sure we’ll still need VIN to avoid a car being claimed more than once.

 

[dmastro]

What if I told you that I know this is the Internet, that I know that I should take everything with a grain of salt, but that 2 adults can discuss or debate here whether the generalities of something could work, and that I already got what I wanted from that conversation, without it constituting a professional accountant/client relationship.

People on this forum are advising others on what aftermarket tires to put on their GTs for high speed driving, and I don't see you jumping in and saying that only a licensed mechanic, the dealer or manufacturer should be able to tell them that ?

In other words, chill.

And good luck picking up the phone to a random tax accountant and asking them their read on the various EV incentive laws or even how they interact with each other during this transitory period or after, when it would likely be their first inquiry of the sort.

In my area, dealers don't know, accountants don't know, it's all so new to everybody and so far very few customers asking for the information.

You're right, I shouldn't have interjected with my opinion to seek qualified professional assistance on a public discussion forum. Please proceed, the worst that can happen is an audit. And non-qualification for the incentive. And some penalties.

 

[ChuckA]

So I was looking into the EV tax credit and found a website ( Alternative Fuels Data Center: Electric Vehicles with Final Assembly in North America (energy.gov) that decodes the VIN of the vehicle and shows where it is assembled.

I did not know that some MEs are not assembled in the US. So, if it is not, then one does not qualify for the EV tax credit?

If the 1st number of the vin is “3”, it assembled in MX.

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