TT: form 8911 "The maximum credit is $1,000 or 30 percent of the installation cost whichever is lower" Actual is "the smaller of 30% of the property’s cost or $1,000"?

[cjshelby68]

The wording means very different things, 30% of installation vs flat $1,000? Also, it says a credit of $30,000 "For property of a character subject to an allowance for depreciation (business/investment use property)." From my research rental property is subject to an allowance for depreciation. If I install an electric charger on a rental property is this credit applicable? Thank you!

[Carl]

What kind of rental property are you referring to, that uses an electric charger to recharge it's batteries?
Also, as you've typed it above, the wording means exactly the same in both situations.  Please let me elaborate.
For starters, the word "FLAT" doesn't appear.
The maximum credit (key word MAXIMUM) is $1K or 30 percent of the installation cost, whichever is lower. (Key word LOWER)
"The smaller (Key word SMALLER) of 30% of the property's cost, or $1K"
With the first statement, if $1K is the "lower" amount, that's what you get.
With the second statement, if $1K is the "smaller" amount, that's what you get.

[VolvoGirl]

Yes, those 2 statements mean and say the exact same thing.  You could even substitute the word LESS for lower and smaller.

[cjshelby68]

I understand now.
I was referring to installing an electric charger on a business or investment property for vehicle use.
What was confusing to me on the 8911 form was the definition of the word "property." I wrongfully assumed that it was referring to the cost of the property (lot/building) on which you are installing the charger. Did not think of the word "property" as the charger and cost of installation. I see now how the wording is exactly the same! Thank you!

[Opus 17]

Property can mean many things.
"real property" (land and buildings) is one thing, "tangible personal property", "energy efficient property" and "intellectual property" are all different other things for tax purposes.

[Opus 17]

The instructions are here. ftp://ftp.irs.gov/pub/irs-dft/i8911--dft.pdf

If you install an electric car charger at your rental property, you must first take section 179 depreciation, if you elect to do that.

Then, the credit is 30% of the remaining cost (if any).

Then, you depreciate the remaining cost over its class lifespan, except that the starting value for depreciation is your net cost after section 179 and the tax credit.

[scraper822]

Where is the form and why doens't the VIN number work?

[RobertG]

Here is how to enter Form 2911 in TurboTax:

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

@scraper822