Tax Deduction for Purchase of Used Leaf?

Yeah, I realize that I don't get the big tax thing for buying a new one, but I was thinking about the deduction I've seen the last few years for purchasing high efficiency appliances and similar things. Is there any way the purchase price for a used EV is tax deductible?

Maybe you can get it Energy Star rated as a home HVAC unit, if it has the heatpump. ;-)

LeftieBiker said:

Maybe you can get it Energy Star rated as a home HVAC unit, if it has the heatpump. ;-)

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Nope, got a 2015 S model. Guess I'm out of luck on that one.

Wow, if you used it for your solar energy system, it would, depending who you talk to, technically (or not) qualify... Likely, it'd have to be permanently connected if you were audited...

When I bought my LEAF in 2011 my refund and return was held forever while the IRS checked for fraud (seems a bunch of people made the claim and were looking for the credit illegitimately)....

Eventually, the check showed up with no audit.

retrodog said:

Yeah, I realize that I don't get the big tax thing for buying a new one, but I was thinking about the deduction I've seen the last few years for purchasing high efficiency appliances and similar things. Is there any way the purchase price for a used EV is tax deductible?

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The Federal Tax Credit is only available one timer per car (first purchased when new). There is a credit available for purchasing and installing the EVSE.

Check with the state and the power company. There may be some credits available for purchasing an EV, even if it is not brand new.

The purchase of a used EV can be tax deductible, if used for business purposes, just like any other business asset.

The only program I can think of that provides govt incentives towards used EV purchases is for poor folks in certain parts of CA. I had to look it up to refresh my memory. See below.

http://time.com/money/3947240/incentives-free-electric-car/
http://www.arb.ca.gov/newsrel/efmp_plus_up.pdf

Just like solar panels, I understand that the credit is ONLY for the FIRST owner... I think you are SOL. Otherwise people could resell the same car endlessly to get money from the government.... That would not be nice....

You are basically are getting the benefit of the tax break.
The $7500 tax credit to the original purchaser basically comes right off any resale value.

Instead of having to wait for the next year taxes, you get the advantage right at the point of sale

retrodog said:

Yeah, I realize that I don't get the big tax thing for buying a new one, but I was thinking about the deduction I've seen the last few years for purchasing high efficiency appliances and similar things. Is there any way the purchase price for a used EV is tax deductible?

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just as you won't get a deduction for a high efficieny "used" appliance, you are not likely to get one for the car either. However, you will want to look at form...uhhh... hmm?... 8910? or something like that which provides a credit for an EVSE install in your home of 30% off the cost not including permits...

retrodog said:

Yeah, I realize that I don't get the big tax thing for buying a new one, but I was thinking about the deduction I've seen the last few years for purchasing high efficiency appliances and similar things. Is there any way the purchase price for a used EV is tax deductible?

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Hey, retro, as a Texas driver, if you have an old gas guzzler and a low-to-moderate income, you can get a rebate from the TX Commission on Environmental Quality (TCEQ) for a highly efficient car of model year 2014-2017.

Full details here: https://www.tceq.texas.gov/airquality/mobilesource/vim/driveclean.html

Basically, the requirements:

• Old ICE vehicle either fails an emission test, or is 10+ years old
• Income limit: AGI of $35,640 for a household size of 1, $72,900 for a household of 4
• Rebate is $3,500 for a hybrid or EV, $3,000 for a regular car or truck
• Must buy from a participating dealer
• New vehicle must be model year 2014 or later (as of Sept 2016), odometer less than 70K

Given that you can find used 2014 Leafs in the $10K-11K range, you could get back 1/3 of the purchase price.

This is a great program if you fit the criteria--I wish more people knew about it!