Plug-in Electric Vehicle Credit

[hunt9791]

For those of you who purchased a conforming plug-in electric vehicle in 2009: I.E. street legal electric golf cart. The IRS has not yet released form 8910. Their web site says a target date is January 28, 2010? Thus you cannot file your 2009 tax year return until the form is released and all the online electronic filing software is updated; if you E-file. Just info for anyone interested...for most a credit of $5,500 dollars, not bad, just in time for Valentines day maybe...

[EdV]

Hunt9791,

Thanks for posting this important info for those of us that took advantage of this.

Let's keep this thread alive and if anyone spots the new form on line, post a link to it here.

[RVRoadie]

TurboTax has put off realeasing this form a couple of times now. Their latest release date is 2/11/2010. Also, remember that this is NOT a refundable tax credit, so you will have to be paying enough tax to cover the tax credit in order to benefit from this.

[EdV]

According to this site http://www.fueleconomy.gov/FEG/tax_EV.shtml the form we should use to claim the credit is 8834, not form 8910.

[TomW]

I vote for Form 8936 which isn't available yet on the IRS web site.

[EdV]

Looks like TomW is correct. Form 8936 is the new form created specifically this year for the plug-in electric vehicles that qualify for the ~4000-7500 tax credit.

It’s still in draft form and even has a mistake where it refers to the wrong line on the 1040 from. We’ll just have to wait for the released form before we can file our taxes this year. Well worth the wait though.

[bgw70]

Looks like TomW is correct. Form 8936 is the new form created specifically this year for the plug-in electric vehicles that qualify for the ~4000-7500 tax credit.

It’s still in draft form and even has a mistake where it refers to the wrong line on the 1040 from. We’ll just have to wait for the released form before we can file our taxes this year. Well worth the wait though.

IRS Form 8936 has been released...

[bgw70]

For what it is worth, Turbo Tax has also been updated and now includes IRS Form 8936...

If any of you purchased the Free Electric Car from Drive Electric then you will interested to know that Turbo Tax has two dates on the form. The first is your purchase date (Date Aquired). The second date (placed in service) is the date you took delivery.

Everyone who purchased this brand of car will have a placed in service date in 2010 because you didn't receive the car until 2010. So, from my understanding, you cannot claim this tax credit in 2009.

[bgw70]

Here is the link to IRS Form 8936

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

[bgw70]

If you own the free electric car from Drive Electric you can get more information on this car from the following site.

http://www.buggiesgonewild.com/zone-star-fairplay/

Good Luck:a040:

[bgw70]

....

[bgw70]

Here is the link to IRS Form 8936

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

I was looking for some help or opinion on the placed in service part of this form...Does Placed in service mean the date when you purchased it or when it was delivered to your home for personnal use?

Thanks in advance!

[mrdills]

I think "placed in service" means when you titled the cart.

[bgw70]

I think "placed in service" means when you titled the cart.

That is what I am hoping also...The IRS didn't make this very clear for us on the form 8936.

Thank you for the response!!!