How do I get ev credit for rivian r1s which I was put into service in 2023. The software is limiting service date as 2022

[PattiF]

If you signed a binding order agreement before August 16, 2022, and took delivery in 2023, you are eligible for the credit. Enter August 15, 2022, as the date placed on service when filling out your information for Form 8936.

From Rivian

[vishwas82]

I missed signing that, so I file it next year?

[KrisD15]

If you had a binding contract to purchase the vehicle between 12-31-21 and 8-16-2022 but took delivery in 2023, you may claim the credit on the 2022 tax return or on your 2023 return. 

In your situation, you may amend your 2022 return and claim the credit, or claim the credit on your 2023 tax year return. 

[vishwas82]

Thanks. What if I don’t have the binding contract? I can’t claim this year.. 

[JohnB5677]

If the vehicle was placed in service in 2023, you will get the credit in 2023.

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[Crisa]

Hi, we signed a binding order agreement before August 16, 2022. All the guidance I've read says to use August 15, 2022 as the "Placed in-service date". The turbotax form also asks for the "Date Acquired", do I use the same date or the actual vehicle delivery date in June 2023? Thanks

[Mike9241]

Provide a link to where you saw this. the general rule is you get the credit in the year place it into service but the rules for whether you qualify for the credit and how much are based on the old rules. 

[NCperson]

@Crisa - if you did not aquire the automobile until June 2023, then the tax credit goes with the 2023 tax return - not the 2022 tax return.  You'll need to follow the rules for 2023 (which were every changing since August, 2022)

https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-after

since you took possession of the vehicle after APril 18, 2023, you are subject to these FAQ

[Crisa]

Here's the link, scroll down to "Purchase date vs. Delivery date" 

Credits for New Electric Vehicles Purchased in 2022 or Before | Internal Revenue Service (irs.gov)

[Mike9241 · Accepted solution]

you're misinterpreting what's on the webpage. the credit is taken on the 2023 return.  that's why Turbotax will not allow your entries.

The amount of the credit depends on when you placed the vehicle in service (took delivery), regardless of purchase date.

According to the instructions given by the IRS, a taxpayer a may not claim the credit before they take possession of the vehicle. If a taxpayer does not take physical of a qualified vehicle by December 31, 2022, the EV tax credit cannot be taken until tax year 2023.

https://www.irs.gov/pub/taxpros/fs-2023-08.pdf 

see the answer to question 5

[Crisa]

Ok thanks

[vishwas82]

The best answer. Answered like a champ