Industries
Features
Apps
Plans and Pricing
Developers
CONTACT SALES START FREE TRIAL
Free Template

Form 8911 – Alternative Fuel Vehicle Refueling Property Credit 2023

1 signer
1 Taxpayer
Use this template
USE THIS FREE TEMPLATE

Form 8911: Claiming the Alternative Fuel Vehicle Refueling Property Credit

The Internal Revenue Service (IRS) provides various tax incentives to encourage the use of clean energy and reduce greenhouse gas emissions. One of these incentives is the Alternative Fuel Vehicle Refueling Property Credit, which can be claimed by eligible taxpayers on Form 8911. This page explains what Form 8911 is for, who can file it, and how to claim the credit directly for EV chargers.

USE THIS TEMPLATE - FREE
form 8911 claiming the alternative fuel vehicle refueling property credit template
Form 8911 is used to claim the Alternative Fuel Vehicle Refueling Property Credit, which is a general business credit available to taxpayers who install qualified alternative fuel vehicle refueling property for business or investment purposes. The credit is equal to 30% of the cost of the qualified, new refueling property, up to a maximum credit of $30,000 for tax year at each location.
Taxpayers who install alternative fuel vehicle refueling property for business or investment purposes are eligible to claim the credit on Form 8911. The credit is available to both individuals and businesses, including tax-exempt organizations, as long as they have a tax liability. The property must be located in the United States and not used for personal use.

Claiming federal tax credit for EV charger units

To claim the credit for EV chargers, taxpayers must complete Form 8911 and attach it to their tax return for the year in which the property’s cost one was installed.

The credit is claimed on the taxpayer’s income tax return as a general business credit, using Form 3800. The credit can be carried back one year or carried forward 20 years if it exceeds the taxpayer or property’s cost of tax liability for the year.

Availability of the IRS Alternative Fuel Vehicle Tax Credit

The IRS alternative fuel vehicle tax credit is a tax credit available to taxpayers who purchase qualified alternative fuel vehicles, such as electric vehicles (EVs) and plug-in hybrids. The credit is available to both individuals and businesses and is based on the battery capacity of the vehicle. The credit ranges from $2,500 to $7,500 for new EVs and plug-in hybrids, depending on the size of the battery.
USE THIS TEMPLATE - FREE

Property credit

There is a tax credit available to taxpayers who install qualified alternative fuel vehicle refueling property, fueling equipment such as EV charging stations, natural gas, compressed natural gas, liquefied natural gas, or liquefied petroleum gas refueling equipment. The credit is equal to 30% of the cost of the first qualified alternative fuel vehicle or, ne diesel fuel orw refueling property, up to a maximum credit of $30,000 per location.

Business incentives

The alternative fuel and electric vehicle and motor vehicle refueling property credit is a tax credit designed to incentivize individuals and businesses to invest in infrastructure that supports the use of alternative fuels such as electricity, hydrogen, and natural gas. The credit is available to taxpayers who purchase and install qualified other motor vehicle refueling property in their homes or businesses, including charging stations for electric vehicles, dispensers for compressed natural gas or liquefied petroleum gas, and equipment for producing and dispensing hydrogen.

Sustainability

The extension of this tax credit is good news for those who used diesel fuel and are interested in reducing their carbon footprint clean burning fuel, and investing in clean energy. By this tax incentive and providing financial incentives for the installation of alternative fuel infrastructure, the government is promoting the adoption of more sustainable and environmentally friendly modes of transportation. Additionall the increased credit ofy, the tax credit can help reduce the cost of installing and operating alternative fuel refueling stations, making them more accessible and affordable for individuals and businesses.

Important timelines

However, it is important to note that the tax credit is only available for qualified property installed before tax year, December 31, 2023. Taxpayers who are interested in taking advantage of this credit should act soon to ensure that they meet the deadline. After December 31, 2023, the credit will no longer be available, so it is important to plan ahead and take advantage of this opportunity while it is still available.

FAQ About Form 8911

No, the credit is only available to taxpayers who install the property for their general business tax credits, not personal use property for credit or investment purposes. EV charging stations installed f personal credit oral use are not eligible for credit.
The maximum credit is calculated as 30% of the total cost of the qualified property, up to a maximum credit of $1,000 for residential EV charging equipment and up to $30,000 for commercial EV charging equipment.
Yes, the property credit was extended through December 31, 2023, by the Consolidated Appropriations Act, 2021. The credit was previously set to expire on December 31, 2020.
To claim the credit, taxpayers must complete the Form and attach it to their tax return. The credit is claimed on the “Credits” section of the tax return, and the amount of the credit is then subtracted from the taxpayer’s total tax liability.
Taxpayers should keep documentation of the purchase and installation of the qualified alternative to fuel tank and vehicle refueling property, including receipts and invoices. This documentation should be retained in case of an IRS audit.

" Undoubtedly one of the best eSignature application available in the market right now. Would love to recommend Fill. "

Liam Washington
Capterra

Ready to get started
with this template?

Click the button below to add this template to your account. If you do not have an account, you can sign up for a free trial to start using this template.
USE THIS TEMPLATE - FREE
Arrow-up