Hey Otmar and anyone else who has an electric vehicle. Here is my final story. Things have changed a bit. Please note: I am not a tax professional. I don't know what the f%#@ I'm talking about. This information is for entertainment purposes only
Here is what H&R Block researched for me:
Pub 535 particularly pgs 45-46
Tax Regulation RIN 1545-AR23
IRSCode 30 and 179A
The upshot of the whole mess is that a
converted car does
not qualify as an electric vehicle for the purposes of the electric vehicle credit. HOWEVER, the relevant criteria for meeting the clean air vehicle deduction is that the vehicle must
not meet the qualifications of the electric vehicle credit.
And if this makes any sense to you at all you should stop
Soooooooo it qualifies for the clean air vehicle deduction which is $2000. It's a deduction and not a credit so that kinda sucks but at least it's not one of the itemized deductions so it doesn't get reduced if you have too many deductions. It just comes right off the top.
I need a