Major mistake by (CPA!) with Commercial Clean Vehicle Tax Credit

[mongo]

VIN # range?

10k

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[mongo]

How do you know it was accepted? My CPA did mine so all I heard a couple days later was that is was rejected last time. Would he get a accepted notification?

Turbo Tax emailed me 41 minutes after submitting them (and texted 25 minutes after that). I'd expect the same type of turn around from your CPA's software. Unless the company has a review process or such.

 

[Aleks]

Turbo Tax emailed me 41 minutes after submitting them (and texted 25 minutes after that). I'd expect the same type of turn around from your CPA's software. Unless the company has a review process or such.

That's awesome! I hope to hear the same good news from my CPA, what did you end up using for the incremental cost? Because the form you showed here had $18,900, neither the $18,800 I found in the 2025 table nor the $19,500 you found in the 2022 table... Was that your final entry on line 23?

 

[Aleks]

VIN # range?

Mine is 42k range if that helps any. A non foundation 2024 AWD cybertruck before leasing and personal tax credit was available.

 

[mongo]

That's awesome! I hope to hear the same good news from my CPA, what did you end up using for the incremental cost? Because the form you showed here had $18,900, neither the $18,800 I found in the 2025 table nor the $19,500 you found in the 2022 table... Was that your final entry on line 23?

?‍ cat says I can't check.
Like I mentioned in DM, it doesn't matter as long as it's over $7,500 and the documents are the safe harbor values.

 

[Aleks]

?‍ cat says I can't check.
Like I mentioned in DM, it doesn't matter as long as it's over $7,500 and the documents are the safe harbor values.

Okay well last I talked with my CPA we went with $18,800 I guess we will see if that number works or what happens, should be fine though.

 

[freyguy]

Maybe I missed something or I really didn’t have a leg to stand on in this conversation, but didn’t you take the credit immediately at pos. Or are you worried the irs is going to come and garnish you for that $7500?

my understanding was at pos the $7500 was immediately taken off. And people were doing that with lease and then immediately buying out the lease..

I could have missed something so I apologize if I did.

 

[Aleks]

Maybe I missed something or I really didn’t have a leg to stand on in this conversation, but didn’t you take the credit immediately at pos. Or are you worried the irs is going to come and garnish you for that $7500?

my understanding was at pos the $7500 was immediately taken off. And people were doing that with lease and then immediately buying out the lease..

I could have missed something so I apologize if I did.

We are dealing with the commercial tax credit, our 2024 cybertrucks did not qualify for the personal tax credit that could be claimed at the point of sale.

 

[mongo]

Maybe I missed something or I really didn’t have a leg to stand on in this conversation, but didn’t you take the credit immediately at pos. Or are you worried the irs is going to come and garnish you for that $7500?

my understanding was at pos the $7500 was immediately taken off. And people were doing that with lease and then immediately buying out the lease..

I could have missed something so I apologize if I did.

Leases are Commercial 45W credits that Tesla gives people the benefit of, but it's not the point of sale 30D credit.
We're business owners claiming the 45W Commercial credit at filing time on our purchases.

 

[Gigahorse]

Turbo Tax emailed me 41 minutes after submitting them (and texted 25 minutes after that). I'd expect the same type of turn around from your CPA's software. Unless the company has a review process or such.

The return can be accepted or land at the IRS, does not mean that the Commercial Clean Energy Credit on your return was approved. When your refund is processed and lands in your bank account +$7,500 at that point I would say you can call it a win.

 

[mongo]

The return can be accepted or land at the IRS, does not mean that the Commercial Clean Energy Credit on your return was approved. When your refund is processed and lands in your bank account +$7,500 at that point I would say you can call it a win.

Ha ha, refund, like I overpay my taxes.
This whole thread started due to a rejection of an e-file. One would assume that if the IRS checks VINs at submission time for 30D, they would also do so for 45W aka the Qualified Commercial Clean Vehicle credit. Especially since it's all automated. When else would they verify the submittal?

 

[Gigahorse]

Ha ha, refund, like I overpay my taxes.
This whole thread started due to a rejection of an e-file. One would assume that if the IRS checks VINs at submission time for 30D, they would also do so for 45W aka the Qualified Commercial Clean Vehicle credit. Especially since it's all automated. When else would they verify the submittal?

Refund, amount owed, etc. A lot of people try to overpay by $1
If you look around on some tax forums, reddit, etc there are a good number of CT owners that had their Commercial Clean rejected

 

[mongo]

Refund, amount owed, etc. A lot of people try to overpay by $1
If you look around on some tax forums, reddit, etc there are a good number of CT owners that had their Commercial Clean rejected

Filed, accepted, and then rejected? That's a fast turn around.
Did they give the reason for rejection?

 

[mongo]

Refund, amount owed, etc. A lot of people try to overpay by $1
If you look around on some tax forums, reddit, etc there are a good number of CT owners that had their Commercial Clean rejected

Found one Facebook thread, but their CPA was doing it wrong

 

[Aleks]

The return can be accepted or land at the IRS, does not mean that the Commercial Clean Energy Credit on your return was approved. When your refund is processed and lands in your bank account +$7,500 at that point I would say you can call it a win.

I hear you but last time the rejection was quick since it is an automated system.

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