You may have heard word that you can get a federal tax credit for installing a home electric vehicle charging station. We want to help you claim that tax credit! We will share with you the steps on how to claim it when filing your taxes!
How To Claim Your Federal Tax Credit:
-Purchase A Home Electric Vehicle Charger:
Any level 2 240-volt charging station qualifies for the credit. There are plenty of level 2 chargers on the market, we recommend going to consumer reports and checking out their reviews on level 2 chargers.
-Install The Level 2 Charging Station:
We recommend getting a few quotes from electricians who have experience installing at-home charging stations. If you are looking for a trusted electrician to install your at-home level two charging station, feel free to contact us. We can lead you in the right direction.
-Keep Your Receipts:
Keep your receipts in a safe spot, when tax time comes around you know exactly where they are. Make sure you save the receipt from purchasing the charging station as well as an invoice from the electrician.
-Tax Form:
After you have completed your full tax return, fill in the 8911 form. You will need to know your tax liability to calculate the credit. If you have further questions about the 8911 form and filing your taxes, we recommend reaching out to CPA or a Tax Preparer.
TIP: Be aware, that you need to have a tax liability (in simple terms, you need to owe taxes) in order to claim the credit.
-Send In Your Taxes:
Send your tax forms along with your receipts to show what you spent on your charger and installation. Your tax liability will be lowered by the credit you qualify for!
This credit is retroactive through 2018, if you previously purchased a level 2 at-home charger you can still claim the credit. This will require filing an amended tax return. We recommend getting in touch with a CPA or a Tax Preparer to help you with an amended return.
We hope this information is helpful when you are looking for a high-quality used electric vehicle and considering installing a level 2 charging station. The Electric Car Corner powered by Auto Outlets USA is the top provider of high-quality used electric vehicles in Rochester, New York. To view our large electric vehicle inventory please click here.
*Please note that the content is provided for informational purposes only and is not intended as tax advice. Electric Car Corner by Auto Outlets USA cannot guarantee that you will be eligible for the federal tax credit and is not responsible for any issues that may arise from your application for the tax credit, including your failure to receive the tax credit. Please consult a tax professional regarding your eligibility for the tax credit.