Question

Other Business Expenses

Forum|Forum|6 years ago
February 18, 2020
1 reply
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Rather than wait for Form 8911 to be incorporated in to Turbotax for the installation of an EV charging station, cant i just realize the cost of the install in other business expenses?

TurboTax Home & Biz Windows

VictoriaD75

Form 8911 is ready for filing.

You can make the entries as follows:

From the Federal menu, choose Deductions & Credits
Expand the menu for Cars and Other Things You Own
Click Start/Revisit next to Energy-Efficient Vehicle Charging Station
Enter the information on the screens that follow

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

D

DAHAuthor

Thanks - If I claimed Section 179 Expense for the vehicle and use the charger 100% for business how do I calculate the Section 179 Expense for the charger purchase and install? The example in this form says:

If you use this station for business and claim a depreciation deduction, you must subtract the credit amount when TurboTax asks you to enter the cost of the station in the Business (Schedule C) or Farm section of the program.

Example: You paid $5,000 to purchase and install your station at your business location. The station is eligible for a credit of $1,500. To claim the depreciation deduction, you must subtract this credit amount when entering the cost of the station in the Business or Farm section of TurboTax.

How was the $1500 credit calculated and is does this mean you'd enter $3500 for Section 179 Expense or will Turbo Tax do the subtraction.

I have $1,714 in total costs, checked the I use the station for a business vehicle and entered 100 for business use percentage, but I am stymied as to what to put for Sec 179 Expense.

Please advise