dgpcolorado wrote:If you leased your LEAF you ought to be able to claim the EVSE tax credit. However, if you purchased your LEAF and claim the $7500 tax credit for it, you might not also be able to claim the EVSE tax credit because of how it is structured. A lot of us found that out the hard way. Perhaps the problem has been fixed in the tax law for 2013, I don't know.
I did purchase my Leaf, and I intend to claim the whole $7,500 credit. I was also intending to claim the 30% credit so that is good to know...or bad to know, depending on how you look at it.
I looked up the wording of the law. The only thing they changed for 2013 was the expiration date. The problem is that everyone is subject to AMT whether they know it or not. It's just that the AMT doesn't start until you get to a significantly higher income level than where the regular income tax starts, and then gradually plays catch-up. So until you get to the cross-over point you can ignore the AMT. Well, most people can, but not you
, not this year.
Just to pull an example out of the air (not real numbers) let's say your regular tax is $9,000, and your AMT is $4,000. You always have to pay the higher of the two, so you pay your regular tax and ignore the AMT. But for 2013 you will take a $7,500 credit on your regular tax, meaning you only pay $1,500. OOPS! What about that $4,000 AMT? Not to worry, you won't have to pay it, but you can only take the 30% EVSE credit if your regular tax after
other credits is still higher than your AMT without subtracting credits, and it isn't.
That's why most people who buy their LEAF are unable to take the EVSE credit unless they install the EVSE in one tax year and buy the car in a different tax year. Since the EVSE credit expires at the end of this year, and you didn't get the EVSE last year, you are out of luck unless you are one of those rare people who use a tax year different from the calendar year. Or, unless you fit in a very narrow range of income where you pay more than $7,500 in taxes but the AMT is still more than $7,500 lower than the regular tax.