Tax Credit in 2022 for Charge Station install?

[LUXMAN]

So I have been looking at this "Inflation reduction act" and the incentive for new EVSE installs.
I see some places that say the Tax Credit for Residential Installs is 30%, up to $1000 and is retroactive to the end of 2021, so its a go for this years Taxes.
But then other places it indicates that the Credit is for installs after Jan 1st, 2023.

Do anyone have a FOR REAL read on this?

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[cvalue13]

But then other places it indicates that the Credit is for installs after Jan 1st, 2023.

mom not certain of th le answer, but I can say that people tend to confuse the rules of the corporate/business credits from the separate and different rules for the personal credits. Some “articles l are sloppy in holding this line or clarifying which they are speaking of.

 

[LUXMAN]

mom not certain of th le answer, but I can say that people tend to confuse the rules of the corporate/business credits from the separate and different rules for the personal credits. Some “articles l are sloppy in holding this line or clarifying which they are speaking of.

Yes. I am running into that all over the internet

 

[bmwhitetx]

(Edit: the credit was reinstated by the IRA but the tax software hasn’t been updated yet.)
Just going through a preliminary tax calculation for 2022 and TurboTax stopped me at the EV charging station credit. Apparently it is not available for tax year 2022, it expired on Dec 31, 2021. This is for personal taxes, not a business. Here is what they say:

Note: The Energy-Efficent Vehicle Charging Station Credit is a "temporary" tax provision. At the time of this release of TurboTax, this credit has expired and is no longer allowed in 2022.

However, temporary credits that have expired often are renewed retroactively, sometimes long after the end of the tax year in which they expired. We continue to collect info about expired credits in TurboTax, but we will not include this information in your return unless and until the expired credit is renewed. If this credit is renewed, we will add it to your return if applicable, as well as help file an amendment if you have already filed without this credit.

 

[LUXMAN]

Just going through a preliminary tax calculation for 2022 and TurboTax stopped me at the EV charging station credit. Apparently it is not available for tax year 2022, it expired on Dec 31, 2021. This is for personal taxes, not a business. Here is what they say:

Note: The Energy-Efficent Vehicle Charging Station Credit is a "temporary" tax provision. At the time of this release of TurboTax, this credit has expired and is no longer allowed in 2022.

However, temporary credits that have expired often are renewed retroactively, sometimes long after the end of the tax year in which they expired. We continue to collect info about expired credits in TurboTax, but we will not include this information in your return unless and until the expired credit is renewed. If this credit is renewed, we will add it to your return if applicable, as well as help file an amendment if you have already filed without this credit.

I was just thinking of getting the new Tax Software (H&R Block) and checking on this again. I could never get a definitive answer on this but of the few EV charger companies I talked too, only Clipper Creek would say it was gonna apply to 2022 but of course couched their response as well with "contact your tax man."
I think it will apply but it may be into January before the answer is pushed and the software is updated.

 

[bmwhitetx]

Ok, did some more research and it looks like the credit was revived by the IRA. I guess the IRS and TurboTax are behind in getting the form reinstated. So hopefully it gets added early next year before I want to file.

This is one of many articles about the credit being reinstated: https://www.forbes.com/advisor/personal-finance/ev-charger-tax-credit/

 

[bmwhitetx]

I was just thinking of getting the new Tax Software (H&R Block) and checking on this again.

I almost bought HR Block since it is cheaper but it doesn’t support EVSE Form 8911. HRB has a roundabout way of getting the credit using other forms meant for other credits and “writing stuff in”. This has been a known issue with HRB. TT has the form and walkthrough but as mentioned it is currently disabled for filing.

Both TT and HRB have Form 8936 for the $7500 EV credit.

 

[RickLightning]

None of the software companies add the form until it's released by the IRS, and then it takes some weeks. Last year 8911 took into March.

And of course it's disabled for filing, since you can't file until sometime in January at the earliest.

 

[TaxmanHog]

As stated above these forms are in the process of revisions and the underlying data processing as well, once all the conditions are ready you will be able to file, late winter early spring.

In years past I have run into issues with certain forms not being ready to go on opening day of the filing season, but TurboTax for the web has been great notifying me when the form is ready for production and the return can be finalized and sent to IRS for processing.

Another byproduct of late legislation, as I'm slinking away from the stump before I go on a rant........

 

[LUXMAN]

I almost bought HR Block since it is cheaper but it doesn’t support EVSE Form 8911. HRB has a roundabout way of getting the credit using other forms meant for other credits and “writing stuff in”. This has been a known issue with HRB. TT has the form and walkthrough but as mentioned it is currently disabled for filing.

Both TT and HRB have Form 8936 for the $7500 EV credit.

Thanks. I just looks through the forms for both.
HRB does not list it, as you say but TT does and it was linked to an Article that said "Updated for Tax Year 2022 • December 1, 2022 09:00 AM"
So hopefully they will update it before the end of January

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