To determine if your location qualifies for the federal EV charging tax credit, here are the key steps and criteria:
Qualification Criteria
- The EV charging equipment must be installed at your primary residence in the US or a US territory to qualify for the tax credit as a homeowner.
- More importantly, the property where the EV charger is installed must be located in either a low-income census tract or a non-urban census tract to qualify for the credit.
How to Check if Your Location Qualifies
- Identify Your Census Tract GEOID:
- Locate your property on the 2015 Census Tract Identifier map to find your 11-digit census tract geographic identifier (GEOID).
- Check Your GEOID Against Eligible Census Tracts:
- Use the IRS Appendix A list or the Refueling Infrastructure Tax Credit Mapping Tool to see if your GEOID is listed as a qualifying low-income or non-urban census tract.
- The Mapping Tool is useful for verifying eligibility on or before November 15, 2024, and may help you check your entity’s eligibility based on your filing timeline.
- Installation Timing:
- The eligibility verification can depend on when the property was placed in service. For properties installed before January 1, 2025, use the 2015 Census Tract list; for others, refer to the latest guidance or mapping tools.
- Additional Installation Requirements:
- The equipment must be new EV charging equipment that meets Department of Energy standards.
- The installation should be at your principal residence if you are an individual seeking the credit.
Summary
To determine if your location qualifies for the EV charging tax credit:
- Find your property’s census tract GEOID.
- Check if it is listed as a low-income or non-urban census tract in IRS or government databases.
- Confirm your installation date fits the eligibility period.
- Ensure the EV charger is new, installed at your primary residence, and meets technical standards.
If your location meets these criteria, you can claim a tax credit of up to 30% of the cost of the EV charging equipment and its installation.
This process ensures the credit supports charging infrastructure in underserved or less urbanized communities, aligning with the program’s goals.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-do-i-determine-if-my-location-qualifies-for-the-ev-charging-tax-credit/
