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2023 Tax credit form, did you get one when you purchased your Bolt?

1303 Views 23 Replies 12 Participants Last post by HRS, 5 d ago

KP80

Discussion Starter · 11 d ago

I'm posting this in the 2022+ EUV discussion just because I think this applies more to recent purchases with the new 2023 tax credit rules.

I recently picked up a fully loaded 2023 Bolt EUV Premier Redline as that's what I was able to locate within 100 miles that wasn't already spoken for. Anyway, after the purchase was complete and I had been reading through these forums and reddit I heard about a form that the dealership is supposed to fill out and give to you. Looking in my paperwork packet I didn't get it so I've got a message out to the people at the dealership to see if they can send me a copy.

Is this form really required or is it just for backup come next year's tax time? I've heard some conflicting info from various discussions about it, just looking for more opinions on the matter.

Also I haven't seen this example doc posted anywhere on these forums, I got this from a Volkswagen forum for the ID.4 where they used it as an example form.

Font Parallel Screenshot Document Number

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1 - 20 of 24 Posts

ElectroEUV

· #2 · 11 d ago

Concord Chevrolet provided this to me when I purchased my EUV

Red Bolt

· #3 · 11 d ago

The IRS said:
Report Required Information
You must report clean vehicle credit information to buyers at the time of sale and later to the IRS.

Report Information to Buyers
Provide the following information to buyers at the time of sale:

Seller/Dealer name and taxpayer ID number

Buyer's name and taxpayer ID number

Maximum credit allowable under IRC 30D for new vehicles or IRC 25E for previously owned vehicles

Vehicle identification number (VIN), unless the vehicle is not assigned one

Battery capacity

Date of sale

Sale price

For new vehicles, verification that the buyer is the original user

Each report must include a declaration of accuracy signed by a representative of your business with binding authority. The declaration must read: "Under penalties of perjury, I declare that I have examined this report submitted to the IRS pursuant to Revenue Procedure 2022-42 by [insert name of Seller], and to the best of my knowledge and belief I certify that this report is true, correct, and complete.”

I can't find anywhere that says we have to FILE that form with our taxes, but we are supposed to HAVE it.

Clean Vehicle Credit Seller or Dealer Requirements | Internal Revenue Service

Sellers of eligible electric vehicles can help their customers take advantage of clean vehicle credits by registering with the IRS and meeting reporting requirements.

www.irs.gov

Reactions: 2

Fjpod

· #4 · 11 d ago

You can download the actual IRS form for you or your accountant to file.

I was recently surprised in NY that the state gives a $2k instant rebate at the time of sale. The dealer handles it. Comes right off the invoice... (And then they add a markup above MSRP). Oh well.

Red Bolt

· #5 · 11 d ago

Fjpod said:
You can download the actual IRS form for you or your accountant to file.

There are 2 different forms. https://www.irs.gov/pub/irs-pdf/f8936.pdf is the form we use when we file our taxes, BUT the IRS says the dealer is supposed to give you the information at the time of sale in the other form. Some dealers don't even know about it. My dealer tried to tell me that the bill of sale was all I needed, but after I pushed them it appeared in my email.

My Dealership said:
We were behind on the knowledge of the IRC 30D. After your sale, GM sent us a bulletin about this form. When Randy asked me about it, I told him I had just seen this form two days before.

So they did send it to me. My thought is that although we don't file the form with our taxes, we are supposed to have it for our records. Plus, and more importantly, the dealer is supposed to send the information to the IRS before mid January 2024.

Tazbeaux

· #6 · 11 d ago

When I purchased my Bolt EV in January my dealer gave me that form all filled out. They handed it to me and told me this is your tax rebate paper, file it with your taxes. It wasn't just in with the rest of the papers.

Fjpod

· #7 · 11 d ago

The dealer form just has all the info you will need to enter on your 1040. I think it's just a courtesy.

Reactions: 1

Lets Bolt

· #8 · 11 d ago

^ what Fjpod said above me ^
My dealer also thought the bill of sale was all i needed. I had to ask my dealer to fill the eligibility form out for me. I would imagine the eligibility form provides the info needed for an official IRS form. And the eligibility form gets tucked away incase of further questions or audits.

mark_vii

· #9 · 11 d ago

I got certificate of eligibility from the dealer. Looked kind of hokey, like a certificate of participation you might give to the local Tee-ball team. Still, I'm saving it for tax time next year.

KP80

Discussion Starter · #10 · 10 d ago

Fjpod said:
...
I was recently surprised in NY that the state gives a $2k instant rebate at the time of sale. The dealer handles it. Comes right off the invoice... (And then they add a markup above MSRP). Oh well.

Kind of a bummer but my state just enacted a $2,500 point of sale discount like NY is doing, I purchased on the 3rd and this got signed into law the 19th. I might look and see if there's anyway I could get it, but I'm guessing I'm on the wrong side of the calendar for this.

As far as what tipped me off about needing it or ensuring the dealer follows through with their end of the requirements, I don't think I ever gave them my SSN number during the whole transaction. Since I wasn't financing through them I simply wrote a check for the purchase, and from what I've read I think they need to supply my SSN number to the IRS along with documentation of the sale. I'll give them a few days over email and see if they figure it out, hopefully the reference number and example form is enough to point them in the right direction.

denisrempel43

· #11 · 10 d ago

I bought a used Bolt from a chevy dealer. I asked for their tax ID No. they didn't know what I was talking about and I never got it.

Red Bolt

· #12 · 10 d ago

denisrempel43 said:
I bought a used Bolt from a chevy dealer. I asked for their tax ID No. they didn't know what I was talking about and I never got it.

IF you took delivery of your used Bolt after Jan 1, 2023 - download this and take it to them.

https://4829685.fs1.hubspotusercontent-na1.net/hubfs/4829685/2023%20IRC%20Section%2025E%20Previously%20Owned%20Clean%20Vehicle%20Tax%20Credit%20Seller%20Report.pdf

Show them this page to prove they are supposed to fill it out, give it to you, AND report it to the IRS next January.

Clean Vehicle Credit Seller or Dealer Requirements | Internal Revenue Service

Sellers of eligible electric vehicles can help their customers take advantage of clean vehicle credits by registering with the IRS and meeting reporting requirements.

www.irs.gov

Ceeotters

· #13 · 10 d ago

I had several calls in to my dealer. It's 90 miles away so I can't just pop in. I finally heard from my salesman, who said they did the form and submitted it. Should I bug them for a copy just in case? There is nothing on the IRS form that I can't fill out.

doverturtle

· #14 · 10 d ago

I was under the impression that next year's taxes would have additional requirements and that form would need to be included for the tax credit. It is a proof of eligibility. I guess we won't know for sure until the IRS issues any new or modified forms.

Reactions: 2

mnl119

· #15 · 10 d ago

KP80 said:
I'm posting this in the 2022+ EUV discussion just because I think this applies more to recent purchases with the new 2023 tax credit rules.

I recently picked up a fully loaded 2023 Bolt EUV Premier Redline as that's what I was able to locate within 100 miles that wasn't already spoken for. Anyway, after the purchase was complete and I had been reading through these forums and reddit I heard about a form that the dealership is supposed to fill out and give to you. Looking in my paperwork packet I didn't get it so I've got a message out to the people at the dealership to see if they can send me a copy.

Is this form really required or is it just for backup come next year's tax time? I've heard some conflicting info from various discussions about it, just looking for more opinions on the matter.

Also I haven't seen this example doc posted anywhere on these forums, I got this from a Volkswagen forum for the ID.4 where they used it as an example form. View attachment 56356

I just purchased a 2023 Bolt EUV and did get the form, but I had to mention it first. If you look at the second fill in line, it's you social security number. I believe this is how the dealership reports the sale to the IRS. The IRS will no doubt check to see that it was filed when you file your taxes next year, so that they have confirmation on both ends of the sale.

Red Bolt

· #16 · 10 d ago

Let me just say this: I have no idea why the form is required. It doesn't appear it's to be filed with our taxes. But the IRS says the dealer is REQUIRED to report clean vehicle credit information to the buyers at the time of sale and later to the IRS. I pushed my dealer and they finally sent me the form, telling me they hadn't heard of it until two days before. I would email the salesman or even the general manager a blank copy of the form and tell him you need him to fill this out today and send it back to you. My dealer is 350 miles away, so I had to do everything via email.

mnl119

· #17 · 10 d ago

Red Bolt said:
I have no idea why the form is required.

It's the only way the dealer can get your social security number and report the sale under that SSN to the IRS. The forms for claiming the credit for Tax Year 2023 under the Inflation Reduction Act have not yet been created by the IRS.

Red Bolt

· #18 · 10 d ago

mnl119 said:
...have not yet been created by the IRS.

https://www.irs.gov/pub/irs-pdf/f8936.pdf

The Form said:
Note: This credit is for qualified plug-in electric drive motor vehicles placed in service before 2023, qualified two-wheeled plug-in electric vehicles acquired before but placed in service in 2022, and new clean vehicles placed in service after 2022.

mnl119

· #19 · 10 d ago

Red Bolt said:
https://www.irs.gov/pub/irs-pdf/f8936.pdf

That form is for tax year 2022. From the top of that form:

Note: This credit is for qualified plug-in electric drive motor vehicles placed in service before 2023, qualified two-wheeled plug-in electric vehicles acquired before but placed in service in 2022, and new clean vehicles placed in service after 2022. See separate instructions for vehicle definitions and other requirements.

Red Bolt

· #20 · 10 d ago

mnl119 said:
That form is for tax year 2022. From the top of that form:

Note: This credit is for qualified plug-in electric drive motor vehicles placed in service before 2023, qualified two-wheeled plug-in electric vehicles acquired before but placed in service in 2022, and new clean vehicles placed in service after 2022. See separate instructions for vehicle definitions and other requirements.

to be clear, if the vehicle is placed in service after 2022 it would be claimed in the tax year it was placed in service.

the instructions state: Use the January 2023 revision of Form 8936 for tax years beginning in 2022 or later, until a later revision is issued. Use prior revisions of the form for earlier tax years. All revisions are available at IRS.gov/Form8936.

so yes the IRS may issue a revision but as of now the form is for tax year 2022 OR LATER which would include tax year 2023. Obviously we don't know what revisions will be made between now and April 15, 2024.

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