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If I had a written agreement on 3/30/22 that I put a significant deposit down for a EV I acquired on 11/19/22 how do I claim the credit since the dates cause issues.

Forum|Forum|3 years ago
March 2, 2023
1 reply
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I put the 3/30/22 as the Date Placed In Service and 11/19/22 as Date Acquired. I am exempt from the "Final Assembly" requirement since I had the written contract on 3/30/22 which is before the 08/15/22 cutoff. The issue is Turbotax says the in service date cant be before the date acquired. Should I flip the dates around?

TurboTax Premier Online

Best answer by MAK70

Yes, the date acquired is the date you purchased, or entered into a written binding contract to purchase. The Date In Service is when you received the vehicle.

If you purchased, or entered into a written binding contract to purchase, a qualified plug-in electric drive motor vehicle after 2021 and before August 16, 2022, you may elect to treat such vehicle as having been placed in service on August 15, 2022, the day before the enactment date of the Inflation Reduction Act of 2022.

@davecarter555

P

Paul3124

"In service" date means the date you've taken delivery of the purchased vehicle, so that date can't be earlier than the contract or order date. That could be the issue.

D

davecarter555Author

I am only given two date fields:

Date Acquired:
Date In Service:

Should I use Date Acquired as Contract Date and Date in Service as Delivery Date then?

M

MAK70Answer

Yes, the date acquired is the date you purchased, or entered into a written binding contract to purchase. The Date In Service is when you received the vehicle.

If you purchased, or entered into a written binding contract to purchase, a qualified plug-in electric drive motor vehicle after 2021 and before August 16, 2022, you may elect to treat such vehicle as having been placed in service on August 15, 2022, the day before the enactment date of the Inflation Reduction Act of 2022.

@davecarter555