Does this apply to the cost of getting a 14-50 outlet installed, which is mostly in the labor? Thanks.
Yes. However, if you pay AMT then the credit is zero.
Here is what the IRS says:
Qualified Alternative Fuel Vehicle Refueling Property
Qualified alternative fuel vehicle refueling property is any property (other than a building or its structural components) used for either of the following.
In addition, the following requirements must be met to qualify for the credit.
Better yet here is the form http://www.irs.gov/pub/irs-pdf/f8911.pdf where you can read the all of what the IRS says. See lines 17 and 18 regarding AMT
+1 mdemetri. I am guessing most tesla buyers pay AMT and will not be able to get this credit.
If the vehicle is purchased for business purposes, then I'm sure the charge port can be deducted as a regular business expense as well. So if you can't get the 30% tax credit, you may be able to reduce your taxable income by the cost of the charger installation. Assuming it's for business use.
My vehicle is going to be 100% business use, so in my case the HPWC will also be a business deduction if I don't qualify for the credit, I may be able to expense it as a Section 179 deduction. I need to discuss this with my accountant.
Is this Qualified Alternative Fuel Vehicle Refueling Property Credit still available with the $7500 tax credit for purchase of the MS?
@teslamonkey - Yes.
Without asking for detailed tax advice, if your federal tax credit lowers the tax you owe, AMT may be triggered? If AMT is not triggered, you should still get the Qualified Alternative Fuel Vehicle Refueling Property credit?