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[vkruger]

“Section 183. Extension of credit for 2-wheeled plug-in electric vehicles. The provision extends through 2016 the 10-percent credit for plug-in electric motorcycles and 2-wheeled vehicles (capped at $2,500).”

[Richard230]

I read in my newspaper today that Congress has approved a rollover of all IRS deductions in their big budget bill.  Let's hope it sticks when it gets the final approval.  I did appreciate that $2000 credit off of my federal tax bill this year for the purchase of my 2014 Zero S with power tank last year.   

[nevetsyad]

Thanks, this just made my day!

[ctrlburn]

https://rules.house.gov/sites/republicans.rules.house.gov/files/114/PDF/114-SAHR2029Ex-SxS.pdf

[Richard230]

As my accountant told me earlier this year (and I mentioned several times here), the electric motorcycle credit had been extended last year.  So my question is: why did it seem like everyone else thought that it had expired for 2014 purchases and why did Zero also state a year ago on their website that the credit had expired?  I suspect that quite a few people that bought electric motorcycles last year didn't even try to apply for the credit and everyone one of them lost $1000 to $2000 in what amounted to a rebate on their Zero or Brammo purchase.  I wonder if you can amend your 2014 tax return to apply for the credit if you purchased a 2014 electric motorcycle and didn't apply for the credit? Something to think about.

[rayivers]

why did it seem like everyone else thought that it had expired for 2014 purchases and why did Zero also state a year ago on their website that the credit had expired?

Well, here's why I thought it had expired - in late December 2014

1) I called Zero, who told me it was still expired "to the best of their knowledge", so
2) I called my original dealer, who was definitely up to speed on the '13 credit and had sold several '13 Zeros solely for that reason (I briefly considered a leftover '13 FX myself to get the credit) and had been following it religiously - he told me 'no' with obvious disappointment - then
3) I haunted the IRS web site & Googled extensively looking for anything related to the '14 EV credit, right up to the day I filed my '14 return in early February 2015

Since the EV credit was only a tiny part of a large deduction rollover, I doubt I would've found much on Google anyway unless a number of people had specifically mentioned it for 2014 (there were many '13 references) and Google crawled those sites often.  A tax accountant would have, though;  it sounds like you've got one of the good ones.  As it was I had plenty of deductions in '14 and didn't really need it, but I would've used it anyway just for the principle.

Ray

[CrashCash]

why did it seem like everyone else thought that it had expired for 2014 purchases and why did Zero also state a year ago on their website that the credit had expired?

I also thought it had expired - in late December 2014, early January 2015 - because TurboTax very firmly said "NO!" to the credit and when I did the research, everybody else seemed to agree.

I waited right up to March and redid my taxes then in the hopes a TurboTax update had changed its mind. My taxes are so simple there's no need for an accountant and not more than 45 minutes with TurboTax.

So I guess I'm screwed for falling in the gap.

[Doug S]

It had expired. Congress had made noises of extending it, but (as we all know) they didn't get much done for quite a while there, and the credit was one of the things that fell through the cracks. But it finally did get passed, not sure when, but it was retroactive so Richard's CPA's assumption that it would get passed worked out just fine.

Those of us who wound up eligible for it, but who didn't claim it last year when we filed, can always file an amendment. That's what I'll wind up doing.

[Eolas]

For those in California, the state rebate is still going strong... my check for $900 from my 2016 Zero SR is in the mail to me now...

[Kocho]

Your accountant was wrong - the credit had expired for tax year '14 during the normal tax season. You could have claimed it, yes, but it would have been improper. Simple as that.

If the credit was later (after 4/15/2014) extended retroactively as someone mentioned, you might now be OK in terms of potential audit. And those who did not claim it last year can file an amended return to claim it, I suspect. I bought a new Vectrix last year and wanted to claim it, but it was not possible - it had expired indeed. For me it was under $100 bucks as I bought the bike new but from liquidation auction for under $1K, so did not make a big difference to me. Not worth the trouble to amend my return. But for a 10% on a Zero, I'd do it.

As my accountant told me earlier this year (and I mentioned several times here), the electric motorcycle credit had been extended last year.  So my question is: why did it seem like everyone else thought that it had expired for 2014 purchases and why did Zero also state a year ago on their website that the credit had expired?  I suspect that quite a few people that bought electric motorcycles last year didn't even try to apply for the credit and everyone one of them lost $1000 to $2000 in what amounted to a rebate on their Zero or Brammo purchase.  I wonder if you can amend your 2014 tax return to apply for the credit if you purchased a 2014 electric motorcycle and didn't apply for the credit? Something to think about.

[KrazyEd]

I am not certain on this NOW, but, I got a screaming deal on my 2012 XU from a dealer who was no longer going to be carrying Zero.
When I filed, I got the rebate for the full Retail price of the bike.

[ctrlburn]

http://www.prnewswire.com/news-releases/zero-motorcycles-helps-deliver-tax-credits-for-electric-motorcycles-300195475.html

Zero Motorcycles Helps Deliver Tax Credits For Electric Motorcycles
Electric Motorcycles Again Eligible for 10% Federal Tax Credit

SANTA CRUZ, Calif., Dec. 18, 2015 /PRNewswire/ -- Zero Motorcycles, the global leader in the electric motorcycle industry, today announced that the company's complete 2016 model line of electric motorcycles will again be eligible for a 10 percent federal tax credit for plug-in vehicles. The tax credit was included in the "last minute" tax extenders bill approved by Congress on Friday and signed into law by President Obama that afternoon.

[Richard230]

When my accountant competed my income tax return earlier this year, he went directly to the electronic IRS electric motorcycle purchase credit form and typed in the information for my Zero and its VIN.  It was accepted on the form (if you type in an unapproved vehicle the form will not accept the information) and the credit was computed automatically by the form and that is what he filed and what the IRS accepted.

I note that the tax credits that were just approved this year were just rolled over from last year.  It seems very unlikely that the electric motorcycle credit would have been specifically inserted into the budget bill if it was already not an approved item in the previous budget law.   

[Electric Terry]

Richard you may have found a glitch in the system!!    But even so, an audit now wouldn't matter anyway because it passed.  I'm on the board of the Electric Auto Association and talk to Jay Friedland from Plug in America often and unless I bumped my head this morning, I'm pretty sure for the past 2 years there hasn't been a federal electric motorcycle tax credit.  But they were working on it, and got it!  So this is great news!  I haven't had the monthly board call yet, so this is the first I heard about it!!  Thanks ctrlburn!

[Doug S]

Exactly as I said...it's amendment time for many of us.