Order now or wait?

Sugi

Active Member
Joined
May 31, 2018
Messages
25
Location
Livermore, CA
Tesla Owner
Model 3
Country
Country
#1
Hey guys,

So I’m torn on what to do. I have my invite to configure my TM3 and have a few things that are making me go back and forth on ordering now or waiting.

I had solar installed on my home earlier this year and a few folks have stated that I may have to roll over some of my credit to 2019. I’ve emailed TurboTax for a definite answer.

If I order before July 1 then I will be grandfathered in to the premium connectivity (not a deal breaker to wait). Im not in need of the long range battery, but would be ok to purchase the vehicle with it.

What do you guys think?
 

Brokedoc

Kick-Gas Contributor
Joined
May 28, 2017
Messages
1,715
Location
New York
Tesla Owner
Model X
Country
Country
#2
Hey guys,

So I’m torn on what to do. I have my invite to configure my TM3 and have a few things that are making me go back and forth on ordering now or waiting.

I had solar installed on my home earlier this year and a few folks have stated that I may have to roll over some of my credit to 2019. I’ve emailed TurboTax for a definite answer.

If I order before July 1 then I will be grandfathered in to the premium connectivity (not a deal breaker to wait). Im not in need of the long range battery, but would be ok to purchase the vehicle with it.

What do you guys think?
It sounds like you’re already maxed out on tax credits for your annual tax liability for 2018 and you don’t really need/want LR battery.

You would probably be better off waiting until early 2019 and getting the SR battery for much less and still get 1/2 of the tax credit for 2019.
 

Sugi

Active Member
Joined
May 31, 2018
Messages
25
Location
Livermore, CA
Tesla Owner
Model 3
Country
Country
#3
It sounds like you’re already maxed out on tax credits for your annual tax liability for 2018 and you don’t really need/want LR battery.

You would probably be better off waiting until early 2019 and getting the SR battery for much less and still get 1/2 of the tax credit for 2019.
What is the max for the tax credit? Also, one member stated that I would be able to roll it over to 2019. Anyone have knowledge on this?
 

SoFlaModel3

@Teslatunity
Moderator
TOO Supporting Member
Joined
Apr 15, 2017
Messages
9,789
Location
Florida
Tesla Owner
Model 3
Country
Country
#4
What is the max for the tax credit? Also, one member stated that I would be able to roll it over to 2019. Anyone have knowledge on this?
My understanding is that the tax credit can not be rolled forward, but you likely want to confirm with a tax accountant.
 

Digital man

Active Member
Joined
Mar 21, 2017
Messages
38
Location
Santa Maria, California
Country
Country
#5
Hey guys,

So I’m torn on what to do. I have my invite to configure my TM3 and have a few things that are making me go back and forth on ordering now or waiting.

I had solar installed on my home earlier this year and a few folks have stated that I may have to roll over some of my credit to 2019. I’ve emailed TurboTax for a definite answer.

If I order before July 1 then I will be grandfathered in to the premium connectivity (not a deal breaker to wait). Im not in need of the long range battery, but would be ok to purchase the vehicle with it.

What do you guys think?
ROLL OVER YOUR CREDIT?
With counseling from H&R, this year, we installed 18 solar panels, and purchased the Tesla M3.
According to them we will be getting a credit of $9,000 (+) for the solar installation and $7,500 for the car, plus $2,500 from the state of Cakifornia. No mention at all about credit roll over to 2019.
 

Dr. J

Private
TOO Supporting Member
Joined
Sep 1, 2017
Messages
1,139
Location
Fort Worth
Tesla Owner
Model 3
Country
Country
#6
What is the max for the tax credit? Also, one member stated that I would be able to roll it over to 2019. Anyone have knowledge on this?
The IRS has a bunch of new forms available to help answer this question, but none as yet for tax year 2018. It's complex, so you need to contact a professional and not rely on internet advice (like this post!). There could be unexpected interplay between different tax credits, particularly:
  • the child tax credit at $2,000 per qualifying child, which is refundable* up to $1,400 and phases out for higher incomes;
  • the residential energy efficient property credit, which is for 30% of qualifying expenditures with no limit, and may be carried forward to future tax years;
  • the qualified plug-in electric drive motor vehicle credit, which is non-refundable** (use it in the current year or lose it).
If two or more of these credits applies in a particular tax year, you should get professional advice or review the tax forms to avoid nasty surprises.

* Refundable: You qualify for the credit even if you don't have (sufficient) tax liability.
** Non-refundable: The credit amount is limited to the amount of tax liability; any credit over that amount is lost.