Sponsored

norivian

Well-Known Member
First Name
norivianyet
Joined
Dec 28, 2021
Threads
9
Messages
152
Reaction score
89
Location
Cali
Vehicles
R1T in 2023 🤞
My CPA is flagging income limits from the 2022 guidance as well that would exempt me from the credit.

Not sure why the Rivian email seems to be saying the income limits don't apply? Anyone have any inspection on this?
Could federal and state income limits be different?
Sponsored

 

McMoo

Well-Known Member
Joined
Nov 16, 2020
Threads
14
Messages
346
Reaction score
464
Location
St. Louis
Vehicles
Tesla Model 3 Performance
If I am reading Rivian's letter correctly, when I actually receive my R1T I will have to file an amended return for 2022 to get the original tax credit.

If my R1T is delivered in 2025, I still may not be able to claim the tax credit as there is a two year time limit from the date that I paid my income tax for 2022.

Brian
3 years from due date or date filed to amend so most people have until April 2026 to amend 2022 return. Possibly as late as October 2026 if the return was extended and not filed until then.
 

norivian

Well-Known Member
First Name
norivianyet
Joined
Dec 28, 2021
Threads
9
Messages
152
Reaction score
89
Location
Cali
Vehicles
R1T in 2023 🤞
I have 2 reservations for 2 R1S's. I signed a BPA for each of them. I've taken delivery of one this year and anticipate taking delivery of the 2nd later this year.

In checking my paper files, I have 2 signed BPA agreements printed out. I believe each one is for one of the R1S. But here's the thing, they look identical.

Is there anything specific to each order or configuration on other people's BPA?
I don’t think so. I remember we got our copies/acknowledgment (I believe it was) which were generic. I wouldn’t expect IRS doing a side by side comparison though you can prove if irs questions.
 

Dark-Fx

Well-Known Member
First Name
Brian
Joined
Jul 15, 2020
Threads
105
Messages
10,135
Reaction score
19,557
Location
Michigan
Vehicles
Polestar 2, R1T, R1S, Livewire One, Fisker Ocean
Occupation
Engineering
Clubs
 
I have 2 reservations for 2 R1S's. I signed a BPA for each of them. I've taken delivery of one this year and anticipate taking delivery of the 2nd later this year.

In checking my paper files, I have 2 signed BPA agreements printed out. I believe each one is for one of the R1S. But here's the thing, they look identical.

Is there anything specific to each order or configuration on other people's BPA?
It's the same agreement, you were supposed to just print two copies and sign them both. They had a submission that was per vehicle and one that was for all deposits on file. This was from filling out the "all deposits" form.
Rivian R1T R1S Rivian posts updated IRS guidance for BPA + Instructions to claim EV Tax Credit 1678382143057

The "this PDF" links to the exact same file in both cases.
 

Sponsored

schalliol

Well-Known Member
Joined
Mar 15, 2021
Threads
1
Messages
93
Reaction score
49
Location
Indiana
Vehicles
Audi S6, Honda Odyssey

tobyringle

Well-Known Member
First Name
Toby
Joined
Nov 6, 2021
Threads
1
Messages
64
Reaction score
89
Location
Indianapolis, IN
Vehicles
R1S
So...I have both a r1s and r1t reservation, both with the binding contracts. R1s due this summer, rt1 due in 2024.

From the sounds of this....it sounds like right now I file my 2022 taxes like normal. Then, after I get the 2023 R1s, I can file an amended 2022 return and ask for the $7500 credit. Then...when I get the 2024 r1t, I amend my 2022 return AGAIN and claim another $7500 for the second vehicle.

Sound right? And I believe the $7500 is per vehicle credit and you can claim it multiple times in a year?
I would do some research. I don’t believe you can file this tax credit multiple times.
 

Dark-Fx

Well-Known Member
First Name
Brian
Joined
Jul 15, 2020
Threads
105
Messages
10,135
Reaction score
19,557
Location
Michigan
Vehicles
Polestar 2, R1T, R1S, Livewire One, Fisker Ocean
Occupation
Engineering
Clubs
 
I would do some research. I don’t believe you can file this tax credit multiple times.
You can claim as many credits as you have tax liability for.
 

dekeen

Well-Known Member
First Name
David
Joined
May 30, 2022
Threads
3
Messages
54
Reaction score
51
Location
Raleigh, NC
Vehicles
R1S (on order)
Occupation
Consultant

Sponsored

Dthoman

New Member
First Name
Dave
Joined
Feb 16, 2023
Threads
1
Messages
4
Reaction score
1
Location
Alpharetta, GA
Vehicles
Rivian R1T, Audi RS6, Porsche GT3RS, Audi Q7, GTI
Occupation
Business Owner
I have a question on this...
I have a deposit for an R1T and signed the 8936 form Rivian sent out this summer (which secures the deposit and makes it non refundable). So I suppose I could file it.

Here's the issue. I bought a used (3 day old) Rivian R1T in December from a friend who took delivery. I paid $89k for it (he flipped it and I paid what I'd pay now and received it in 2022 so it was a complete write off for my company). I'd imagine that He (previous owner) will get the $7,500 tax credit as the original purchaser from Rivian. I will likely NOT get the vehicle that I have a deposit on (don't need 2). Not sure if I can take the 8936 tax credit too based on my deposit, IF I never end up getting a vehicle delivered by Rivian...
 

DDay61

Active Member
First Name
Bill
Joined
Jan 1, 2023
Threads
3
Messages
37
Reaction score
23
Location
Minnesota
Vehicles
Rivian R1T, 2021 992 4S, 2019 Macan S
I was wrong. If you have a BPA and a VIN, and you file 8936 with 15Aug2022 as the "in service" date, you can claim the credit. My tax person is agreeing.

Still, I view this as "audit bait" to some degree.

If it was a couple of hundred dollars, I would forget it; but, $7500 is a decent amount of cash.
 

schalliol

Well-Known Member
Joined
Mar 15, 2021
Threads
1
Messages
93
Reaction score
49
Location
Indiana
Vehicles
Audi S6, Honda Odyssey
I have a question on this...
I have a deposit for an R1T and signed the 8936 form Rivian sent out this summer (which secures the deposit and makes it non refundable). So I suppose I could file it.

Here's the issue. I bought a used (3 day old) Rivian R1T in December from a friend who took delivery. I paid $89k for it (he flipped it and I paid what I'd pay now and received it in 2022 so it was a complete write off for my company). I'd imagine that He (previous owner) will get the $7,500 tax credit as the original purchaser from Rivian. I will likely NOT get the vehicle that I have a deposit on (don't need 2). Not sure if I can take the 8936 tax credit too based on my deposit, IF I never end up getting a vehicle delivered by Rivian...
I think you’re correct, the Used credits don’t come in place until the new tax year and you can’t just private party it.

For used, you have to go through a dealer and it has to be <$25K:
Beginning January 1, 2023, if you buy a qualified used electric vehicle (EV) or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit (also referred to as a previously owned clean vehicle credit). The credit equals 30% percent of the sale price up to a maximum credit of $4,000.
 

invertedgeek

New Member
Joined
Mar 9, 2023
Threads
0
Messages
3
Reaction score
3
Location
SF Bay Area
Vehicles
2023 R1T
Occupation
General Manager
Hello folks,

I'm new here. I have a binding contract agreement before August 2022, and just took delivery of my R1T. I filed the tax for 2022 last week, does that mean I can ammend the 2022 tax return and qualify for $7500 credit?

Thanks!
 

donaldbyrd

Member
First Name
Donald
Joined
Jan 16, 2023
Threads
1
Messages
17
Reaction score
24
Location
Portland, OR
Vehicles
'22 R1S Adventure Pack, '22 Volvo v60 CC
I was wrong. If you have a BPA and a VIN, and you file 8936 with 15Aug2022 as the "in service" date, you can claim the credit. My tax person is agreeing.

Still, I view this as "audit bait" to some degree.

If it was a couple of hundred dollars, I would forget it; but, $7500 is a decent amount of cash.
I'm in the 8 steps. Looks like delivery will be within a month. I have a VIN assigned and a signed BPA. I have not filed my taxes yet. Do you think I can go ahead and claim the credit even though the truck hasn't been delivered to me yet? From my guide, it's currently on a freight train being delivered to the west coast.
Sponsored

 
 




Top