The Inflation Reduction Act of 2022 (IRA 2022) extended the alternative fuel vehicle refueling property credit to cover refueling property placed in service after 2021 and before 2033.
If you buy a battery-powered car and install new EVCSE at your main home to recharge its batteries, you may be able to trim your tax bill through the Alternative Fuel Vehicle Refueling Property Credit. The maximum credit is $1,000 or 30 percent of the installation cost, whichever is lower.
However, this credit is limited to your tax liability. The Alternative Minimum Tax is also involved in the calculation.
Per Form 8911 a tentative minimum tax for Alternative Minimum Tax that is calculated as your return is prepared. Form 8911 compares that "tentative minimum tax" to the "net regular tax" after certain other credits have been taken into account. If the " tentative minimum tax" is greater than the "net regular tax", then the Form 8911 credit is disallowed.
This is likely what happened.
Click here for Form 8911.
Click here for more information on the Alternative Fuel Vehicle Refueling Property Credit.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
