Federal Tax Credit spread out over multiple years

Toyota Rav4 EV Forum

Help Support Toyota Rav4 EV Forum:

This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.
A

Allen

Member
Joined
Sep 22, 2017
Messages
19
Does anyone know if the Federal Tax credit can be spread over multiple years if you weren't able to take full advantage of it the year you bought the vehicle?

Does anyone know a CPA familiar with the subject I could hire to resubmit my taxes for the past 2 years?
 
Single year against TOTAL income tax not just the April payment.
Otherwise consider a lease if a credit is given for the tax adjustment.
New vehicles only so does not really apply to any RAV4-EV.
Not a CPA but I have filed a few returns.
 
If you failed to take the tax credit in the year that you purchased a RAV4 EV new, you could probably file an amended return to claim it in that year. However, only one year would be involved since there is no carryover. I'm sure the IRS would look over this amended return very carefully to make sure you weren't claiming a credit on a car that had already received it.
 
Hi Mike! We met at the EV fest a few weeks ago. I need to email you and James about the ebikes.

I did claim it the year I bought it but was not able to take the whole $7500. Since everyone always quotes the $10,000 rebate ($7500 Fed+ $2500 CA) I was wondering. My friend said he was able to claim it a different year because he also wasn't able to claim it all that year but his was a business purchase.
 
Allen said:
Hi Mike! We met at the EV fest a few weeks ago. I need to email you and James about the ebikes.

I did claim it the year I bought it but was not able to take the whole $7500. Since everyone always quotes the $10,000 rebate ($7500 Fed+ $2500 CA) I was wondering. My friend said he was able to claim it a different year because he also wasn't able to claim it all that year but his was a business purchase.
Click to expand...
On personal income taxes (IRS 1040 filing) you cannot roll over any unused portion of the EV credit. I don't know about other tax forms since the businesses that I'm part owner of are all proprietorships that get rolled into the 1040 schedules. Corporate tax may have different treatment.
 

Similar threads

M
2014 Rav4 EV Dead - Dealer says cost will be $13k - vehicle will be total loss
2
Replies
26
Views
2K
bdunst
B
asavage
Tesla Powertrain Diagnostics ("TPD") v1.1.46
2
Replies
21
Views
1K
towersmart
T
asavage
TPMS sensors replacement (for dead batteries, etc.)
Replies
13
Views
3K
alflash
alflash
H
New Charge Controller issue
Replies
2
Views
6K
hokiematt
H
D
My own experiences fixing a RAV4 EV not charging/fuse blown issue
2
Replies
34
Views
10K
mattysaul
M

Latest posts

Back
Top