wantonsoup
Well-known member
I leased a Leaf in 2013 in Colorado. Long story short I trusted TurboTax with my 2013 taxes and they completely ignored my Colorado State EV tax credit so I got nothing. I'm going to refile on paper and do it correctly to get the money!
I know you have the choice to do either the 2010-2013 or the 2013-2021 model year method. I'm going to do the 2010-2013 method because it's slightly more (or a lot more, which is my question!).
I got the 17-page packet about how to figure it all out. Worksheet 1.3 on page 4 is for figuring out a leased EV. Of course, the dealer retains the $7,500 Federal Tax credit on leases. So on line 2 "Any grant, credit, or rebate reflected in the lease" I put $7,500. They put the $7,500 down as a "rebate" on the contract in a few places. Using all these numbers you compute your Leased Vehicle Factor. 0.12 in my case.
But then on Page 3 Worksheet 1.1, Line 2 is "Any available federal credit (see http://www.irs.gov)". Am I supposed to put ANOTHER $7,500 here??? If I do, my tax credit drops by almost $700. But it's so specific it feels like I have to acknowledge it. But perhaps it means the tax credit that I personally would qualify for, which is zero. I don't know. I don't want the whole thing to be declined of course.
Any help? To those that leased starting in 2013 and using the old calculation method, what did you do? Thanks!
I know you have the choice to do either the 2010-2013 or the 2013-2021 model year method. I'm going to do the 2010-2013 method because it's slightly more (or a lot more, which is my question!).
I got the 17-page packet about how to figure it all out. Worksheet 1.3 on page 4 is for figuring out a leased EV. Of course, the dealer retains the $7,500 Federal Tax credit on leases. So on line 2 "Any grant, credit, or rebate reflected in the lease" I put $7,500. They put the $7,500 down as a "rebate" on the contract in a few places. Using all these numbers you compute your Leased Vehicle Factor. 0.12 in my case.
But then on Page 3 Worksheet 1.1, Line 2 is "Any available federal credit (see http://www.irs.gov)". Am I supposed to put ANOTHER $7,500 here??? If I do, my tax credit drops by almost $700. But it's so specific it feels like I have to acknowledge it. But perhaps it means the tax credit that I personally would qualify for, which is zero. I don't know. I don't want the whole thing to be declined of course.
Any help? To those that leased starting in 2013 and using the old calculation method, what did you do? Thanks!
". Am I supposed to put ANOTHER $7,500 here??? If I do, my tax credit drops by almost $700. But it's so specific it feels like I have to acknowledge it. But perhaps it means the tax credit that I personally would qualify for, which is zero. I don't know. I don't want the whole thing to be declined of course.
