[ejinaz]

Where did any instructions tell you to enter a specific date other than the actual date of acquisition and date put in service.https://blog.turbotax.intuit.com/life/clean-vehicle-tax-credit-find-out-if-you-qualify-53914/

 

[MyNinthNewCar]

Where did any instructions tell you to enter a specific date other than the actual date of acquisition and date put in service.https://blog.turbotax.intuit.com/life/clean-vehicle-tax-credit-find-out-if-you-qualify-53914/

From IRS.GOV
Instructions for Form 8936 (01/2023)
…
Specific Instructions
Line 2
Enter the vehicle's VIN on line 2. The VIN of a vehicle can be obtained from the registration, title, proof of insurance, or actual vehicle. Generally, the VIN is 17 characters made up of numbers and letters.
Line 3
Enter 08/15/2022 if you qualify and elect to apply the transition rule discussed below.
Transition rule.
If you purchased, or entered into a written binding contract to purchase, a qualified plug-in electric drive motor vehicle after 2021 and before August 16, 2022, you may elect to treat such vehicle as having been placed in service on August 15, 2022, the day before the enactment date of the Inflation Reduction Act of 2022.

I have a written agreement of a non-returnable deposit in excess of 5% of the MSRP.

 

[LuisBos]

Cheating on your taxes ... lots of people do it

Evidence or conjecture?

 

[ejinaz]

From IRS.GOV
Instructions for Form 8936 (01/2023)
…
Specific Instructions
Line 2
Enter the vehicle's VIN on line 2. The VIN of a vehicle can be obtained from the registration, title, proof of insurance, or actual vehicle. Generally, the VIN is 17 characters made up of numbers and letters.
Line 3
Enter 08/15/2022 if you qualify and elect to apply the transition rule discussed below.
Transition rule.
If you purchased, or entered into a written binding contract to purchase, a qualified plug-in electric drive motor vehicle after 2021 and before August 16, 2022, you may elect to treat such vehicle as having been placed in service on August 15, 2022, the day before the enactment date of the Inflation Reduction Act of 2022.

I have a written agreement of a non-returnable deposit in excess of 5% of the MSRP.
interesting that you have a non returnable deposit of that size when no one knew about the 5% rule until after the bill was signed

 

[Knucklehead]

If you did have a binding contract, and I thought it needed to be significantly more than 5% but I honestly can remember, then you are OK. I know many of us tried to get one but could not.

In my case I could if I took full ownership of the vehicle before it was even at the dealer and if something happened in delivery well it could be messy. I choose not to go down that route. Mine was in port awaiting transit in the days before the bill was signed.

It also can vary by state, from the IRS:

“In general, a written binding contract :

• is enforceable under state law, based on the state and relevant facts and circumstances, and
• does not limit the damages a buyer or seller can receive for a breached contract, such as forfeiting a deposit or paying a pre-determined dollar amount or a percentage of the total contract price for the vehicle.
• An indication of a binding contract is if a buyer has made a significant non-refundable deposit or down payment.”

5% I didn’t think was significant enough but the rules are vague that a court can decide.

 

[Knucklehead]

“In general, a written binding contract :

• 
  …
• does not limit the damages a buyer or seller can receive for a breached contract, such as forfeiting a deposit or paying a pre-determined dollar amount or a percentage of the total contract price for the vehicle.
  …

Note that phrase carefully:

Is a very high bar on the contract. It means that your contract cannot call out and say you will only lose your deposit regardless of the percentage. You have to be on the hook for the full price contactually although they don’t have to hold you to it in actuality.

This is what I remember the dealer said when I was looking into this and the IRS seems to confirm that. This quote is from here:

https://www.irs.gov/credits-deductions/credits-for-new-electric-vehicles-purchased-in-2022-or-before

 

[idka]

I agree with knucklehead...

I ordered the car May and received it in September 2022. The Polestar space wasn't able to provide me a written contract, so they said I couldn't qualify for the tax rebate.

If I was able to get the written contract, I would be doing the taxes with an accountant this year instead of on my own.

I am not even sure how many people the IRS hired...for customer service, auditors, etc...

Its all a gamble since the audit risk for each of us are different and it comes to chance for the next few years...

 

[Knucklehead]

I agree with knucklehead...

I ordered the car May and received it in September 2022. The Polestar space wasn't able to provide me a written contract, so they said I couldn't qualify for the tax rebate.

If I was able to get the written contract, I would be doing the taxes with an accountant this year instead of on my own.

I am not even sure how many people the IRS hired...for customer service, auditors, etc...

Its all a gamble since the audit risk for each of us are different and it comes to chance for the next few years...

There is fuzziness in the law that I can see people claiming it but I also think your are increasing your likelihood of an audit and you can plead your case then or take to tax court. I’ll wait for someone else to do that and I’d file an amended return if the rule is relaxed.

Also if you have a state that somehow has a relaxed definition of a binding contract then you won the lottery. It’s actually state law that applies to contracts.

I am personally pained by this as are others but I’m a guy that tries to stick to the rules. I did have another option and that was to cancel my order, which is what Senator Manchin(sp?) wanted, and I did seriously consider it at the time. In the end I’m happy with the car and glad I didn’t.

I did take the federal tax credit for installing my charger, and you should too. Also got a federal credit for solar last year.

 

[ejinaz]

There is fuzziness in the law that I can see people claiming it but I also think your are increasing your likelihood of an audit and you can plead your case then or take to tax court. I’ll wait for someone else to do that and I’d file an amended return if the rule is relaxed.

Also if you have a state that somehow has a relaxed definition of a binding contract then you won the lottery. It’s actually state law that applies to contracts.

I am personally pained by this as are others but I’m a guy that tries to stick to the rules. I did have another option and that was to cancel my order, which is what Senator Manchin(sp?) wanted, and I did seriously consider it at the time. In the end I’m happy with the car and glad I didn’t.

I did take the federal tax credit for installing my charger, and you should too. Also got a federal credit for solar last year.

I agree with you...I know my accountant would not have changed any of the dates...Luckily my car was at the dealer and was delivered on August 13th...Dealer was issuing Binding contracts for the $500 deposit but issued a sales contract for me instead which I signed and agreed to purchase the car since it was so close to delivery.

 

[idka]

There is fuzziness in the law that I can see people claiming it but I also think your are increasing your likelihood of an audit and you can plead your case then or take to tax court. I’ll wait for someone else to do that and I’d file an amended return if the rule is relaxed.

Also if you have a state that somehow has a relaxed definition of a binding contract then you won the lottery. It’s actually state law that applies to contracts.

I am personally pained by this as are others but I’m a guy that tries to stick to the rules. I did have another option and that was to cancel my order, which is what Senator Manchin(sp?) wanted, and I did seriously consider it at the time. In the end I’m happy with the car and glad I didn’t.

I did take the federal tax credit for installing my charger, and you should too. Also got a federal credit for solar last year.

If I can stay low under their radar that would be great. Being audited is not fun, when they go back years of history.

I didnt install a charger. But I did purchase one to use with my existing 220 outlet, which I don't think will count. Aside from that my electrician talked me out of it since the electrical cables were expensive and it was easier to just buy one that uses the 220 outlet. Try it with the lower charging rate and see if it is acceptable, if its not I can always call him to get it installed.

Solar is one of the things I want to get but waiting for something thats more straight forward like solar roofs or shingles to be more easily available.

I am enjoying the P2, so I am glad I stuck to it... the other dealers marking up the EVs made me look away from them...

 

[Knucklehead]

Solar is one of the things I want to get but waiting for something thats more straight forward like solar roofs or shingles to be more easily available.

Off topic but the panels are more efficient and less expensive than the roof/shingle solutions. They are also pretty straight forward where as the solar roofs are very expensive and hard to install (the Tesla ones.) There are some shingles that install more more easily(by GAF) but I don’t think they too efficient.

 

[idka]

Off topic but the panels are more efficient and less expensive than the roof/shingle solutions. They are also pretty straight forward where as the solar roofs are very expensive and hard to install (the Tesla ones.) There are some shingles that install more more easily(by GAF) but I don’t think they too efficient.

I agree with what you said. The only reason I am thinking of the solar roofs over panels is that I have 4 sky lights up there which also restricts the amount of panels I can have...
One of the places I spoke to a while back asked if I was willing to give up some of the sky lights...