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Author Topic: Is 10% Federal Tax Credit Back?  (Read 6905 times)

LeftieBiker

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Re: Is 10% Federal Tax Credit Back?
« Reply #45 on: January 13, 2016, 04:52:50 AM »

   I actually claimed this credit once already, a few years ago, but forget: does the full purchase price of the bike, including dealer "prep" and "destination" fees count (except sales tax) or only the actual sticker price? I just paid $13.5k for a demo '15 SR, but the "price" was $12,445. Actually, now that I think about it, the first bike didn't have these add-on fees. It just arrived broken...
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EV Ownership:

2001 Oxygen Lepton
2008 X-Treme XM-3000
2011 ZEV 5000LA
2015 Zero SR
Too many electric bicycles to list, mostly EZIP

Richard230

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Re: Is 10% Federal Tax Credit Back?
« Reply #46 on: January 13, 2016, 04:57:59 AM »

So, just for clarity here, amendment of the '14 tax return for a Zero purchased in '14, will actually work and I should get the refund that partially incentivized me to buy in the first place?

No, I don't believe that would work.

P.S. I've contacted my House Rep over 3 weeks ago, no reply so far.

You probably didn't send along a large enough check with your letter to get his attention.   ::)
« Last Edit: January 14, 2016, 04:36:39 AM by Richard230 »
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Richard's motorcycle collection:  2018 16.6 kWh Zero S, 2020 KTM 390 Duke, 2002 Yamaha FZ1 (FZS1000N) and a 1978 Honda Kick 'N Go Senior.

pacificcricket

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Re: Is 10% Federal Tax Credit Back?
« Reply #47 on: January 14, 2016, 12:25:53 AM »

You probably didn't send along a large enough check with your letter to get is attention.   ::)

Haha, yeah... In all seriousness, House has been in recess for the last 4 weeks or so. I believe they resume work today actually. But no worries,
I won't drop it :)
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ammonsh

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Re: Is 10% Federal Tax Credit Back?
« Reply #48 on: January 28, 2016, 09:43:15 AM »

Can Ssomeone give a very straightforward answer?  Is the Zero I purchased in 2014 eligible for a tax credit?
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mrwilsn

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Re: Is 10% Federal Tax Credit Back?
« Reply #49 on: January 28, 2016, 09:55:56 AM »

Can Ssomeone give a very straightforward answer?  Is the Zero I purchased in 2014 eligible for a tax credit?
Not from the US Federal Government if the purchase date is in 2014. [emoji20]

Sent from my XT1060 using Tapatalk

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Richard230

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Re: Is 10% Federal Tax Credit Back?
« Reply #50 on: January 28, 2016, 09:32:13 PM »

Can Ssomeone give a very straightforward answer?  Is the Zero I purchased in 2014 eligible for a tax credit?

Apparently my tax preparer was "misinformed" regarding my 2014 Zero S being eligible for a tax credit and I received a $2000 rebate for my 2014 Zero purchase (along with the $900 California rebate).  He went right to the on-line IRS rebate form, typed in the information, including the VIN, and it accepted the vehicle and automatically computed the rebate, which I received as a deduction on my 2014 income taxes.  It was only recently that I discovered that my Zero was manufactured in December of 2013, so maybe that was why I got the rebate (and I did put a deposit down and sign a sales agreement in 2013). Anyway, all of the evidence suggests that I just got lucky and if you try to go back and claim the rebate for a 2014 electric motorcycle purchase now you will get rejected.  Funny though how the purchase of an electric car in 2014 still got a 10% or up to a $7,500 rebate.  ??? Someone in Congress apparently didn't appreciate electric motorcycles when the rebate got deleted during the late-2013 legislative session.  ::)
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Richard's motorcycle collection:  2018 16.6 kWh Zero S, 2020 KTM 390 Duke, 2002 Yamaha FZ1 (FZS1000N) and a 1978 Honda Kick 'N Go Senior.

pacificcricket

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Re: Is 10% Federal Tax Credit Back?
« Reply #51 on: January 29, 2016, 12:29:17 PM »

I'm still waiting for the response from Rep. Suzanne Bonamici, it has been slightly over a month since I've communicated to her office. I will give them a couple more weeks, and start writing/calling after that if still no response.

I've done some additional digging around this, and it doesn't look pretty. This does stink like an Equal Protection claim, and based on how this came to be, it may be pretty difficult for the government to justify exclusion of the 2014 even under Rational Basis scrutiny. But first I've got to hear it from the congresswoman.
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MrDude_1

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Re: Is 10% Federal Tax Credit Back?
« Reply #52 on: January 29, 2016, 07:10:44 PM »

You also have a good argument for it effecting the resale value of your motorcycle.
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benswing

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Re: Is 10% Federal Tax Credit Back?
« Reply #53 on: January 30, 2016, 08:27:05 AM »

Just completed my taxes using TurboTax and it was easy to input the information for the vehicle tax credit and the charging equipment tax credit. 

However, the form is not available to submit until Feb 18th.  Just going to wait and submit them then.
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nevetsyad

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Re: Is 10% Federal Tax Credit Back?
« Reply #54 on: January 30, 2016, 09:06:37 AM »

Huh, TaxSlayer.com has no place for charging equipment and says that credit expires in 2014 (even after I sent them info on the Dec 18 2015 bill).
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MrDude_1

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Re: Is 10% Federal Tax Credit Back?
« Reply #55 on: February 16, 2016, 01:20:42 AM »

Huh, TaxSlayer.com has no place for charging equipment and says that credit expires in 2014 (even after I sent them info on the Dec 18 2015 bill).
try looking up the specific form by name/number.
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togo

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Re: Is 10% Federal Tax Credit Back?
« Reply #56 on: February 16, 2016, 03:11:11 AM »

OK, so turbotax does it right?  Was it the website version or the install-on-your-pc version, benswing?

And taxslayer.com doesn't do it right?  Or did you get it to work, nevetsyad?

Anyone, experience with other tax prep so far?

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mrwilsn

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Re: Is 10% Federal Tax Credit Back?
« Reply #57 on: February 16, 2016, 09:00:06 AM »

I used turbo tax. I have already gotten the refund for my charger. I used the online version but I would think it shouldn't matter.

Sent from my XT1060 using Tapatalk

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benswing

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Re: Is 10% Federal Tax Credit Back?
« Reply #58 on: February 16, 2016, 09:09:48 AM »

I'm just using the online version. They just sent me a note saying the form is available now.


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First to 48 states all electric!
 - Long Range Electric Biker - https://www.facebook.com/BenRidesElectric/
 - Video/photo/articles about 4 corners tour: http://www.benswing.com
 - Crossed the USA in 2013 on a 2012 Zero S with the Ride the Future Tour, see the movie at https://vimeo.com/169002549

LeftieBiker

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Re: Is 10% Federal Tax Credit Back?
« Reply #59 on: February 16, 2016, 11:04:52 AM »

   I was told that if I bought my bike before the end of 2015, I would be able to get the refund for it in 2016. Well, the actual tax form uses the "in service date" instead of the date of purchase, so I won't be able to get the refund until next year, having bought my SR on 12/31/15. It still hasn't arrived.
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EV Ownership:

2001 Oxygen Lepton
2008 X-Treme XM-3000
2011 ZEV 5000LA
2015 Zero SR
Too many electric bicycles to list, mostly EZIP
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