Electric Vehicle Tax Credit 2018 Form

The problem is that tesla confirmed that by the end of 2018 they will have become the first manufacturer to lose its electric car tax credit.

Electric vehicle tax credit 2018 form.

Under the terms of the tax credit tesla was one of the manufacturers that qualified for the electric car tax credit. Notice 2013 67 qualified 2 or 3 wheeled plug in electric vehicle credit under section 30d g. The irs gives detailed instructions for how to fill out these forms on their website but we ve broken down. The credit for qualified two wheeled plug in electric vehicles has been extended to cover vehicles acquired in 2018 2019 and 2020.

About publication 463 travel entertainment gift and car expenses. Federal tax credits for new all electric and plug in hybrid vehicles federal tax credit up to 7 500. All form 8936 revisions. See credit phaseout and line 4b.

The credit amount will vary based on the capacity of the battery used to power the vehicle. All electric and plug in hybrid cars purchased new in or after 2010 may be eligible for a federal income tax credit of up to 7 500. Line 4b is used to reduce the credit for certain vehicles purchased after 2018. If you purchased a new vehicle that runs on electricity drawn from a plug in rechargeable battery you may be eligible to claim the qualified plug in electric drive motor vehicle tax credit which can reduce your tax bill.

Notice 2016 15 updating of address for qualified vehicle submissions. General instructions purpose of form use form 8936 to figure your credit for qualified plug in. Claiming the federal electric vehicle tax credit.