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1. Alternative Fuel Vehicle Refueling Residential Or Commercial Property Credit
Alternative Fuel Vehicle Refueling Residential Or Commercial Property Credit
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- Alternative Fuel Vehicle Refueling Residential Or Commercial Property Credit
If you set up residential or commercial property to shop or dispense clean-burning fuel or charge electrical automobiles in your house or organization, you might be qualified for the Alternative Fuel Vehicle Refueling Residential Or Commercial Property Tax Credit. The residential or commercial property should be installed in a certifying area.
The credit permitted is based upon the placed-in-service date for the refueling residential or commercial property. It was extended and customized by the Inflation Reduction Act (IRA).
Who qualifies
The credit is offered to organizations and individuals who install certified refueling or recharging residential or commercial property, including electric vehicle charging devices, in an eligible place. Eligible tax exempt and federal government entities can also declare the credit through elective pay.
Qualified refueling or recharging residential or commercial property
To certify for the credit, the residential or commercial property must be utilized to store or give clean-burning fuel or to charge electric automobile.
In addition, the residential or commercial property must:
- Be positioned in service throughout the tax year.
- Have initial usage that started with the taxpayer.
- Be used mainly in the U.S. and U.S. territories.
- Remain in an eligible census tract (since January 1, 2023).
- If for organization or investment usage, be depreciable residential or commercial property.
- If for individual usage, be installed on residential or commercial property used as a main home
As of January 1, 2023, the definition of certified residential or commercial property includes charging stations for 2- and 3-wheeled electrical automobiles (for usage on public roads) and includes bidirectional charging devices.
Eligible census tracts
To qualify, the refueling or charging residential or commercial property needs to be set up in a low-income community census tract or non-urban census system. Follow these steps based upon the date when you put the residential or commercial property in service to see if your location certifies.
For residential or commercial property positioned in service before January 1, 2025:
1. Locate your residential or commercial property on the 2015 Census Tract Identifier and copy your 11-digit census tract geographical identifier (GEOID).
2. Search for your GEOID in the table below or in Appendix A PDF. If your GEOID is not noted, then your residential or commercial property is not qualified for the credit.
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For residential or commercial property placed in service after January 1, 2025:
1. Locate your residential or commercial property on the 2020 Census Tract Identifier and copy your 11-digit census tract geographical identifier (GEOID).
2. Search for your GEOID in the table listed below or in Appendix B PDF. If your GEOID is not listed, then your residential or commercial property is not qualified for the credit.
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We'll occasionally publish updated lists of certified census tracts in the Federal Register or Internal Revenue Bulletin, so check back later to see if you're eligible.
Amount of credit
Individuals
For residential or commercial property you purchase and put in service at your primary home from January 1, 2023, to December 31, 2033, the credit equals 30% of the expense of the residential or commercial property as much as an optimum credit of $1,000 per item (each charging port, fuel dispenser, or storage residential or commercial property).
Find information in Publication 6027 Individuals, Electric Vehicle Chargers, and the Alternative Fuel Vehicle Refueling Residential Or Commercial Property Credit PDF.
Businesses and tax exempt organizations
For qualified residential or commercial property positioned in service at a service or company from January 1, 2023, to December 31, 2032, the credit equates to 6% of the expense of the residential or commercial property as much as an optimum credit of $100,000 per product (each charging port, fuel dispenser, or storage residential or commercial property).
Businesses and organizations that meet prevailing wage and apprenticeship requirements are eligible for a 30% credit with the exact same $100,000 per-item limitation.
Find information on the credit for services in Publication 6028 Businesses and the Alternative Fuel Vehicle Refueling Residential Or Commercial Property Credit PDF.
Find details on the credit for tax exempt and government entities in Publication 6029 Tax-Exempt Entities and the Alternative Fuel Vehicle Refueling Residential Or Commercial Property Credit PDF.
How to claim the credit
To claim the credit for individual or organization residential or commercial property, connect Form 8911 PDF to your tax return. Find information in Instructions for Form 8911 PDF.
Partnerships and S corporations must file Form 8911 to declare the credit. All other service taxpayers are not required to complete or submit the form if their only source for this credit is a collaboration or S corporation. Instead, they can report this credit straight on line 1sts of Part III of Form 3800, General Business Credit.
Tax exempt and government organizations: Claim the credit with elective pay
To declare the credit for your company through elective pay, you need to notify the seller in writing that you plan to declare via optional pay. Otherwise, the seller can declare the credit if they plainly disclose to you the amount of the credit allowed. However, a seller that declares the credit might be prepared to install the eligible residential or commercial property at a lower upfront cost to you by passing its tax savings to your organization.
