Tax benefit for installed CT Gateway

[Vagis9780]

I understand from discussions with my tax accountant (who just returned from 2024 tax seminar), you can claim the 30% battery storage/backup deduction in the year commission your Tesla Gateway/Charger. This includes the cost of equipment (gateway & charger) and materia/labor. Check with your tax accountant before filing your taxes. (Too bad we can’t include CT battery pack, unfortunately battery pack has to be “stationary“ to qualify).

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[TownBiz]

Was thinking the same… Claiming 30% of $2500 for the PowerShare hardware + charger and whatever you paid for install?

 

[LeeS]

Nowhere in the tax code does it require the battery to be stationary. Ask him to point to that rule.

 

[Vagis9780]

Nowhere in the tax code does it require the battery to be stationary. Ask him to point to that rule.

How would arrive at a battery value? The gateway is a line item on CT invoice.

 

[LeeS]

The line item that says Cybertruck, as the whole thing is a mobile battery storage device. As long as you spend more than 12 hours a day charging/discharging, you can claim, in good faith, that it's primary purpose is energy storage and not transport.

 

[cybercricket]

How would arrive at a battery value? The gateway is a line item on CT invoice.

I wonder if that may be available through the spare parts pricing.

 

[mongo]

I understand from discussions with my tax accountant (who just returned from 2024 tax seminar), you can claim the 30% battery storage/backup deduction in the year commission your Tesla Gateway/Charger. This includes the cost of equipment (gateway & charger) and materia/labor. Check with your tax accountant before filing your taxes. (Too bad we can’t include CT battery pack, unfortunately battery pack has to be “stationary“ to qualify).

If the battery doesn't qualify, what's their rationalization to say the rest of the equipment does?

 

[seussiii]

Its Form 8911 (Alternative Fuel Vehicle Refueling Property Credit)

https://www.irs.gov/instructions/i8911
https://www.irs.gov/forms-pubs/about-form-8911

It's basically for installing a home charger. 30% of install / equip / permit capped at $1k total IIRC.

Just did this the other day in TT.

 

[LeeS]

Unless you set up a home based business to 1099 power back to the utility at a profit, then it's a commercial purchase and should qualify for 30% no cap, plus 10% if you're in an energy corridor, plus sec 179 depreciation.

You better believe your congressperson/local millionaire is doing it that way and laughing at anybody who accepts the scraps of the residential versions of these credits.

 

[mongo]

Its Form 8911 (Alternative Fuel Vehicle Refueling Property Credit)

https://www.irs.gov/instructions/i8911
https://www.irs.gov/forms-pubs/about-form-8911

It's basically for installing a home charger. 30% of install / equip / permit capped at $1k total IIRC.

Just did this the other day in TT.

That's charging though, not backup which is what OP referenced.

 

[seussiii]

That's charging though, not backup which is what OP referenced.

Ah good catch, didn't know one for backup existed. Must be similar documentation for that out there?

 

[cybercricket]

Ah good catch, didn't know one for backup existed. Must be similar documentation for that out there?

I've done a quick search in the tax software and I don't see anything specific to the backup. It used to be that if you installed a qualified PV system, then all associated components were included, battery backup too. There was no separate credit for a battery backup though in the absence of a PV system.

 

[mongo]

I've done a quick search in the tax software and I don't see anything specific to the backup. It used to be that if you installed a qualified PV system, then all associated components were included, battery backup too. There was no separate credit for a battery backup though in the absence of a PV system.

I think it's the same credit as solar, but it changed to allow grid tied (load shifting) BESS systems without solar.
https://www.energystar.gov/about/federal-tax-credits/battery-storage-technology

 

[cybercricket]

I think it's the same credit as solar, but it changed to allow grid tied (load shifting) BESS systems without solar.
https://www.energystar.gov/about/federal-tax-credits/battery-storage-technology

That was helpful, I was able to find the relevant part in TurboTax now :

 

[cybercricket]

So I guess we just need to get the quote from a Tesla service center for replacement cost of the Battery AND onboard charger/inverter to plug in the relevant numbers there.

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