To claim the EV charging tax credit, you must meet the following eligibility requirements:
For Home Installations:
- Qualified Refueling or Recharging Property: The charging station must be used to recharge electric motor vehicles.
- Installation Requirements: It must be installed on property used as a main home.
- Form and Limit: File Form 8911 with the IRS. The tax credit is 30% of the hardware and installation costs, up to $1,000.
For Business Installations:
- Qualified Refueling or Recharging Property: The charging equipment must be used for business purposes.
- Eligible Use: The equipment should be depreciable property used primarily in the U.S. and U.S. territories.
- Location Requirements: As of January 1, 2023, the property must be located in an eligible census tract.
- Form and Limit: The tax credit is up to 30% of the total cost of equipment and installation. For installations completed after 2022, the credit can be up to $100,000 per charger if labor and construction requirements are met.
Additional Requirements:
- Census Tract: As of January 1, 2023, the installation must be in an eligible census tract.
- Bidirectional Chargers: Bidirectional charging equipment is now included in qualified property.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/what-are-the-eligibility-requirements-for-claiming-the-ev-charging-tax-credit/
