EV end of year Tax Question

bmost88

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Apr 27, 2016
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Dallas Fort-Worth, TX
#1
I've looked for the answer to this question in the forums but couldn't find it. I know Trev beats a dead horse with these tax questions, but here is I hope a new questions.

So I'm thinking about taking the plunge and turning in my model 3 reservation and buying a Model S in December. If I order the Model S in December and take delivery on or before April 1'st to comply with the free super charging for life perk, would I be able to claim the EV Tax credit on the 2016 taxes or since I didn't take delivery until 2017 do I have to wait to file the tax credit for the following year?

Appreciate any information anybody can provide.

- Brian
 

MelindaV

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#2
I've looked for the answer to this question in the forums but couldn't find it. I know Trev beats a dead horse with these tax questions, but here is I hope a new questions.

So I'm thinking about taking the plunge and turning in my model 3 reservation and buying a Model S in December. If I order the Model S in December and take delivery on or before April 1'st to comply with the free super charging for life perk, would I be able to claim the EV Tax credit on the 2016 taxes or since I didn't take delivery until 2017 do I have to wait to file the tax credit for the following year?

Appreciate any information anybody can provide.

- Brian
no. You need to purchase (take delivery) in the tax year. So if delivery is after December 31st, you would claim the credit on your 2017 taxes
 

Michael Russo

MSM Team Founder, Midnight S≡R≡NITY rider
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#4
@bmost88 , all I can say is whichever decision you end up taking, you'll be driving a wonderful car... If you can afford the MS, and if size does not matter, I can understand that you're thinking of this option... Plus if you do, think of the pleasure you're making to two people... The one Model ≡ reservationist who will get his/her car a little earlier... and Elon who's going to make a bit more money on your car... :)
Have a great day!
Greetings from Houston for still another week!
 

BigBri

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#5
Maybe you can get one already in stock and not have to wait the production time? Might get it into your 2016. Big congrats if you take the plunge! I've been half trying to figure out how to get an S but can't swing it.
 

bmost88

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Apr 27, 2016
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Dallas Fort-Worth, TX
#6
Thanks! The problem with buying one already in inventory is that they don't have the new next gen autopilot hardware and that makes it less future proof. If I'm gonna take the plunge, I'm going to hold on to the car for prob 8+ years. Ive had my current car for a decade now. lol 230k miles on it time for a new one.
 

BigBri

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#7
Thanks! The problem with buying one already in inventory is that they don't have the new next gen autopilot hardware and that makes it less future proof. If I'm gonna take the plunge, I'm going to hold on to the car for prob 8+ years. Ive had my current car for a decade now. lol 230k miles on it time for a new one.
Great plan, similar thinking here. Planning to drive the car into the ground. Getting AP2 before the price increase is a great idea. I've been looking at some used MS in the 70 range. I'd be wickedly tempted if there were any incentives. Self employment sucks sometimes!