What is the alternative fuel infrastructure tax credit?

The U.S. Code 30C Alternative Fuel Infrastructure Tax Credit gives qualifying businesses 30% or up to $30,000 tax credit for all alternative fuel infrastructure installed and placed in service from 2018 to the end of 2021.

Who is eligible for alternative fuel vehicle refueling property credit?

Save 30% on. EVBox Stations. With the Alternative Fuel Vehicle (AFV) Refueling Property Credit from the IRS, US businesses and residents are all eligible for 30% off their entire EV charging hardware purchase (up to $30,000). This federal tax credit also extends back to purchases made in 2018-21.

Does Turbotax have Form 8911?

Form 8911 for EV plug installation.

Who can use Form 8911?

If you equipped your home or business to accommodate alternative fuel vehicles, you may be able to use Form 8911: Alternative Fuel Vehicle Refueling Property Credit to reduce your federal tax obligation.

What is alternative fuel infrastructure?

AFVs are dedicated, flexible fuel, or dual-fuel vehicles designed to operate on at least one alternative fuel. These vehicles operate on an electric charge or can run on a variety of fuels, including compressed natural gas (CNG), liquid natural gas (LNG), ethanol, biodiesel, propane and hydrogen amongst others.

What is considered an alternative fuel vehicle?

An alternative fuel vehicle (AFV) is a vehicle that runs on substances other than the conventional petroleum gas and diesel. Examples of alternate fuels include electric, solar, biodiesel, ethanol, propane, compressed air, hydrogen, liquid natural gas and liquid petroleum.

Why is Form 8911 not available?

Registered. TurboTax indicates that the 8911 form for “Alternate Fuel Vehicle Refueling Property” is NOT READY. This simply means that the form is still being updated due to the IRS being late in implementing new requirements established by Congress late last year.

How does form 8911 work?

Use Form 8911 to figure your credit for alternative fuel vehicle refueling property you placed in service during your tax year. The credit attributable to depreciable property (refueling property used for business or investment purposes) is treated as a general business credit.

Where can I get Form 8911?

▶ Go to www.irs.gov/Form8911 for instructions and the latest information.

  • OMB No.
  • Business/investment use part (see instructions) . . . . . . . . . . . . . . . . .
  • Subtract line 2 from line 1.

How far back can you claim fuel tax credits?

within four years
You can claim fuel tax credits at the time you acquire the fuel. You must claim within four years. The four years starts from the day after you were required to lodge the BAS for the tax period in which the fuel was acquired.

When does the alternative fuel infrastructure tax credit (AFI) expire?

Search Federal State Local Examples Utility Examples Summary Tables Alternative Fuel Infrastructure Tax Credit Expired: 12/31/2021 Something Missing? Email the Technical Response Serviceor call 800-254-6735.

What is the fuel credit for fueling stations?

Fueling station owners who install qualified equipment at multiple sites are allowed to use the credit towards each location. Consumers who purchase qualified residential fueling equipment prior to December 31, 2021, may receive a tax credit of up to $1,000.

What fuel blends are eligible for tax credits?

Fueling equipment for natural gas, propane, liquefied hydrogen, electricity, E85, or diesel fuel blends containing a minimum of 20% biodiesel installed through December 31, 2021, is eligible for a tax credit of 30% of the cost, not to exceed $30,000.