Kea Posted January 20, 2012 Report Share Posted January 20, 2012 Client bought a Chevy Volt in 2011 and qualifies for the $7500 tax credit. They also installed a 240V charger for faster charging time. They qualified for a "free" charger, but had to pay for installation including upgraded brakers & wiring. When looking at the instructions for Form 8911, I can only find a reference to 30% of the "property's cost." But I can't find anything that says whether that includes installation or not. The cost of the installation and upgrades was around $2500. Does this qualify for the credit? Or, since the unit itself was "free" there is no credit? Thanks! Quote Link to comment Share on other sites More sharing options...
Kea Posted January 23, 2012 Author Report Share Posted January 23, 2012 Bump? Quote Link to comment Share on other sites More sharing options...
Kea Posted April 6, 2012 Author Report Share Posted April 6, 2012 Bump 2? Thanks to Bulldog Tom for reminding me about this question. I'll need to wrap up this return soon - or put it on extension. Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted April 6, 2012 Report Share Posted April 6, 2012 I do not claim to know the answer definitively, [i.e. no cite] but my assumption would be that installation is part of the cost of any asset that requires installation. In other words, the "cost" is the cost to have the asset in working condition. That is true in any other type asset, so I would treat this the same. Quote Link to comment Share on other sites More sharing options...
Kea Posted April 7, 2012 Author Report Share Posted April 7, 2012 That's the way I was leaning, but (like you) couldn't find any specifics. Just doing some general "googling" I found a blog with Volt owners discussing the credit saying they had no problems with it. But that really doesn't mean a whole lot. Quote Link to comment Share on other sites More sharing options...
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