Hypothetical question

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golfcart

Well-known member
Joined
Jan 4, 2016
Messages
458
Location
Virginia Beach, VA
Hypothetically speaking is there anything illegal about getting a friend in Colorado to buy an ev for me then immediately buying it from him to get the $5000 credit?
 
Theoretically - probably not and certainly not in practice. I never saw my $5000 CO credit as the dealer took it off the purchase price before any other paper work was even started. Ditto for the utility credit which is also available to many here in CO.

Your friend will also probably get the $7500 Fed credit too, though, since the car will be 'used' when you buy it.
 
Re the $7,500 tax credit - buyer may not get that - I believe there is a stipulation that you can not turn around and sell the car immediately. It makes sense to avoid gaming the tax law.
 
Yeah, you shouldn't buy it from him immediately, wait at least a month to be safe for the tax credit. Check on CO's rebate terms because I think in CA you have to own it for 2 years and in TX, one year.
 
I have often wondered about that, if say you lived in Kansas and drove across the state line and bought the car. I had imagined the $5k just wouldn't exist.
 
The util rebate was dependent on address. I think I had to bring a bill statement in to prove my utility billing address.

For the CO state rebate, I'm not sure, but it's hard to buy a new car without supplying some sort of legal address and if that address wasn't in CO I think it would raise a lot of flags.

I don't remember any questions about how long I owned the car when I filed my Fed taxes but maybe I just missed it.
 
goldbrick said:
I don't remember any questions about how long I owned the car when I filed my Fed taxes but maybe I just missed it.
There isn't a question of length of ownership on the federal tax form. Just the date you put the vehicle into service.
 
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