For Time of Sale reporting related to clean vehicles, specific forms are not explicitly mentioned in the provided information. However, sellers must report certain required information through the IRS Energy Credits Online system. For 2023 transactions, sellers were allowed to use Form 15400 or similar forms as a substitute for submitting the necessary details.
Here are the key points regarding Time of Sale reporting:
- Required Information: Sellers must report clean vehicle credit information to both the buyer and the IRS. This includes submitting reports through IRS Energy Credits Online within 3 calendar days of the sale for vehicles placed in service on or after January 1, 2024.
- Submission Methods for 2023 Reports: Sellers could submit 2023 reports via email with a password-protected Excel document or by faxing the necessary information.
- Registration and Reporting Process: Dealers and sellers need to register their businesses on the IRS Energy Credits platform to submit Time of Sale reports.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/are-there-any-specific-forms-required-for-time-of-sale-reporting/
