Tax Credit
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105 Posts
I am looking at the 2016 form right now.
Figuring it will be the same (or really similar for 2017)
From what I see it wants:
Year , make , model
VIN
Date placed in service
The Bolt is a known item and don't think you actually need that certification.
As it is already certified and still under the sales units cut off.
Figuring it will be the same (or really similar for 2017)
From what I see it wants:
Year , make , model
VIN
Date placed in service
The Bolt is a known item and don't think you actually need that certification.
As it is already certified and still under the sales units cut off.
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612 Posts
I would get a guarantee in writing from that dealer to give you the difference if he's mistaken, before signing the purchase!
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612 Posts
As I recall. you list the VIN in the section of your tax return where you claim tax credits. Then pray that this VIN hasn't already been claimed by someone else when IRS gets around to matching up all the VINs claimed that year. Buying a 'new' car showing 200 miles might be a gamble that some dealer or leasing company was in reality the first owner and already claimed the credit.
That's why I suggested get a written promise from the dealer guaranteeing to refund the tax credit to you, if IRS says sorry, a year or so later.
That's why I suggested get a written promise from the dealer guaranteeing to refund the tax credit to you, if IRS says sorry, a year or so later.
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2,501 Posts
In this case, there would need to be an audit and you bring your paperwork showing you bought the car new. Why would the tax credit be first come first serve?!? Anyone can get a VIN off the dealer website.
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612 Posts
I assume (retired government auditor here) everyone claiming a specific VIN would be required to show their purchase paperwork showing that VIN. The earliest credible purchase paperwork with that VIN wins the right to use the credit.
But ... asking for a guarantee from the dealer protects you, if things somehow go weird and IRS denies you the credit.
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2,501 Posts
Well, if two people have purchase documents showing NEW from the dealer, then looks like the dealer needs to cough up the $ or get sued for fraud.
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500 Posts
At least in the state of Michigan, the form submitted to the State for a title/plate should have the "new" box checked. If you want to be real picky ask to see the "Manufacturers Statement of Origin" before they submit it to the State to transfer ownership of the vehicle from them to you.
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1,964 Posts
The "gold standard" for fed tax credit eligibility is whether the vehicle was ever titled.
Sometimes the dealers play games and "sell" some of their cars to their other DBA's which results in a title being issued to the DAB entity.
As long as a title was never issued that vehicle is eligible.
Sometimes the dealers play games and "sell" some of their cars to their other DBA's which results in a title being issued to the DAB entity.
As long as a title was never issued that vehicle is eligible.
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1,734 Posts
We claimed the full $7500 on our 2017 and it was one of the easier tax filings ever. No complicated hard copies required.
jack vines
jack vines
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648 Posts
Bought two Bolts (2017 & 2018). Just needed what Wyvern mentioned - basic facts. No problem. Also got the CA rebates. A great deal at the time...
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2,501 Posts
Well, this is interesting...
IRS Fails To Stop Electric Car Tax Credit Cheats
Should there be a tax break for buying an electric car? A report on lax IRS enforcement of the $7,500 plug-in tax credit adds to the debate.
www.forbes.com
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1,313 Posts
Well dang, that royally sucks. Guess it was inevitable, IRS has been losing strength with so many additional duties thrown on them, including the EV Tax credit.
I just got a letter from the IRS disputing my $7,500 tax credit for a 2019 Bolt EV purchased 3/3/19. It said the VIN is invalid (it's not). And it said I need to send in a copy of the bill of sale and the manufacturer's certification.
Instructions for 2019 Form 8936 point to this web page that lists credit elegibility and amount by manufacturer, model and date put into service. I'm going to send them a printout of the General Motors, LLC section on that IRS web page.
Web searches indicate that requesting a certification from manufacturers or their dealers leads nowhere.
It looks like the IRS is serious about catching fraud through this tax credit.
Instructions for 2019 Form 8936 point to this web page that lists credit elegibility and amount by manufacturer, model and date put into service. I'm going to send them a printout of the General Motors, LLC section on that IRS web page.
Web searches indicate that requesting a certification from manufacturers or their dealers leads nowhere.
It looks like the IRS is serious about catching fraud through this tax credit.
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20 Posts
Um, GM burned through the 200,000 allowed EV rebates a while back. sorry I don’t have the date. likewise Tesla is no longer eligible. The 2019 filer will need to research when the max was hit.
found some info:
www.theverge.com
found some info:
GM will be the second automaker to lose the EV tax credit, while Bolt sales stumble
Buyers will have until April 1st to take advantage of the full $7,500 credit.
www.theverge.com
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500 Posts
They want proof of the date of sale presumably because the phase out began shortly thereafter.
At least in Michigan, the manufacturers certification is surrendered to the Secretary of State when the car is titled. The title saying the car was "new" should suffice.
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