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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 install residential or commercial property to store or dispense clean-burning fuel or recharge electric automobiles in your home or company, you may be eligible for the Alternative Fuel Vehicle Refueling Residential Or Commercial Property Tax Credit. The residential or commercial property should be installed in a qualifying place.

The credit allowed 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 certifies

The credit is offered to organizations and individuals who install qualified refueling or recharging residential or commercial property, including electric car charging devices, in a qualified area. Eligible tax exempt and federal government entities can also claim the credit through optional pay.

Qualified refueling or recharging residential or commercial property

To receive the credit, the residential or commercial property needs to be utilized to store or dispense clean-burning fuel or to charge electric motor lorries.

In addition, the residential or commercial property needs to:

- Be positioned in service during the tax year.
Have original use that started with the taxpayer.
Be utilized primarily in the U.S. and U.S. areas.
Be in a qualified census system (as of January 1, 2023).
If for company or financial investment usage, be depreciable residential or commercial property.
If for individual use, be installed on residential or commercial property used as a primary home

Since January 1, 2023, the definition of certified residential or commercial property includes charging stations for 2- and 3-wheeled electric cars (for use on public roads) and consists of bidirectional charging equipment.

Eligible census tracts

To qualify, the refueling or charging residential or commercial property should be installed in a low-income community census tract or non-urban census system. Follow these actions based on the date when you put the residential or commercial property in service to see if your location certifies.

For residential or commercial property placed 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 system geographic identifier (GEOID).

Search for your GEOID in the table listed below or in Appendix A PDF. If your GEOID is not listed, then your residential or commercial property is not qualified for the credit.

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For residential or commercial property put 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 system geographical identifier (GEOID).
Search for your GEOID in the table listed below or in Appendix B PDF. If your GEOID is not noted, then your residential or commercial property is not qualified for the credit.

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We'll periodically release upgraded lists of certified census systems 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 buy 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 companies

For qualified residential or commercial property put in service at a company or organization from January 1, 2023, to December 31, 2032, the credit equals 6% of the expense of the residential or commercial property up to a maximum credit of $100,000 per product (each charging port, fuel dispenser, or storage residential or commercial property).

Businesses and organizations that fulfill dominating wage and apprenticeship requirements are eligible for a 30% credit with the 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 federal 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 declare the credit for individual or business residential or commercial property, attach Form 8911 PDF to your tax return. Find information in Instructions for Form 8911 PDF.

Partnerships and S corporations must submit Form 8911 to claim the credit. All other service taxpayers are not needed to complete or submit the type 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 federal government organizations: Claim the credit with optional pay

To claim the credit for your company through optional pay, you should inform the seller in writing that you intend to claim via elective pay. Otherwise, the seller can declare the credit if they clearly reveal to you the amount of the credit allowable. However, a seller that claims the credit might want to install the qualified residential or commercial property at a lower in advance cost to you by passing its tax savings to your organization.