[Jd19]

Originally Posted by xchriz012x

if i were to order a 45e today....9/16/22...and take delivery of the car before 12/31/22...i won't qualify for the federal tax credit?

You will qualify as long as the secretary does not release guidance on battery capacity requirements before you take delivery. Try to find a dealer with an open allocation.

[xchriz012x]

Originally Posted by Jd19

You will qualify as long as the secretary does not release guidance on battery capacity requirements before you take delivery. Try to find a dealer with an open allocation.

i actually found one with two allocations...he wasn't sure if i can qualify. hmmm...i should take take a chance.

[Jd19]

I’d guess most dealers will be reluctant to tell if you qualify or not with all the recent changes. At the same time most large accounting firms would not definitively tell you if you qualify. As a new 45e owner and someone that works in the tax world, I’d take the chance

[xchriz012x]

Originally Posted by Jd19

I’d guess most dealers will be reluctant to tell if you qualify or not with all the recent changes. At the same time most large accounting firms would not definitively tell you if you qualify. As a new 45e owner and someone that works in the tax world, I’d take the chance

thanks for your fast reply. i'll contact the dealer tomorrow with my order number.

[TurtleBoy]

Originally Posted by Jd19

I’d guess most dealers will be reluctant to tell if you qualify or not with all the recent changes. At the same time most large accounting firms would not definitively tell you if you qualify. As a new 45e owner and someone that works in the tax world, I’d take the chance

A big problem was the BMWNA CEO's letter to dealers was filled with mistakes and misinformation. He told them that as soon as the bill was signed into law no BMW's were eligible for the tax credit. I let my sales manager know what the actual impacts were so he passed the correct information along to CA's but many dealers seem to be going by the incorrect info.

[P1]

Originally Posted by Jd19

I’d guess most dealers will be reluctant to tell if you qualify or not with all the recent changes. At the same time most large accounting firms would not definitively tell you if you qualify. As a new 45e owner and someone that works in the tax world, I’d take the chance

Funny you mention that. Both the BMW sales guy and my CPA said they doubted I'd qualify even if I would take delivery in 2023.

[TurtleBoy]

Originally Posted by P1

Funny you mention that. Both the BMW sales guy and my CPA said they doubted I'd qualify even if I would take delivery in 2023.

At least they were correct on that rather than saying you wouldn't qualify if you took delivery in 2022. Or did you mean they said 2022?

[P1]

Originally Posted by TurtleBoy

At least they were correct on that rather than saying you wouldn't qualify if you took delivery in 2022. Or did you mean they said 2022?

Sorry, meant to say 2022.

[brad_saggy]

Originally Posted by Jd19

You will qualify as long as the secretary does not release guidance on battery capacity requirements before you take delivery. Try to find a dealer with an open allocation.

I know this "guidance" was mentioned in the law. But, according to the IRS bulletin issued after the law was made effective, the old credits will continue for North American assembled cars until December 31, 2022. So, OP should be good.

[TurtleBoy]

Originally Posted by brad_saggy

I know this "guidance" was mentioned in the law. But, according to the IRS bulletin issued after the law was made effective, the old credits will continue for North American assembled cars until December 31, 2022. So, OP should be good.

That guidance is what has lead people to believe the battery guidance will not be issued prior to the deadline. However, the OP is correct, should the Secretary issue it earlier then those requirements will become effective the next day.

[brad_saggy]

Originally Posted by TurtleBoy

should the Secretary issue it earlier then those requirements will become effective the next day.

I'm curious where that is being mentioned? At least not for IRS related stuff since they clearly call out various categories of purchase periods, "before Aug 16", "Aug 16 - Dec 31, 2022" and follows it up with a separate section on "future guidance" where they mention "beginning in 2023".

[TurtleBoy]

Originally Posted by brad_saggy

I'm curious where that is being mentioned? At least not for IRS related stuff since they clearly call out various categories of purchase periods, "before Aug 16", "Aug 16 - Dec 31, 2022" and follows it up with a separate section on "future guidance" where they mention "beginning in 2023".

It is written in the law.

[TurtleBoy]

Originally Posted by One Desi

Here the response from BMW Concierge on X5 2023 eligibility for federal tax credit.

Hello xxx,

Thank you for contacting the BMW i Team. I appreciate your order!

At this time, the BMW i Team not have information as to when the 2023 BMW X5 xDrive45e will be eligible for a tax credit at: https://fueleconomy.gov/. Once the information is available, it will be accessible through the state and federal tax resources.

For your convenience, BMW i Team members can be reached Monday through Thursday from 9:00 a.m. to 9:00 p.m. and Friday 9:00 a.m. to 6:00 p.m., Eastern Time. Feel free to call us via the BMW iConcierge Hotline at 1-855-236-1025.

xxxxx
BMW i Team Specialist

Bottomline - it's up in the air as of now. Even though car is built in NA, not sure if there's any other criteria that's keeping X5 from getting added to the list.

No, that is bad information. The MY23 45e is eligible under the current rules.

[TurtleBoy]

Originally Posted by One Desi

It could or could not be. However this is directly from BMW Concierge. My 45e is scheduled for delivery around mid-October. Hope it gets to the list by then.

LOL there is no doubt that it is eligible. Do not go to BMW or dealers for tax advice.

Whether or not it is on the list at this time really isn't important but it has been on the list for quite some time now.




https://www.fueleconomy.gov/feg/taxevb.shtml

[TurtleBoy]

Originally Posted by One Desi

Check these out -

https://www.irs.gov/businesses/plug-...30-and-irc-30d

https://afdc.energy.gov/laws/electri...for-tax-credit

MY 2023 X5 doesn't make to the list (yet) while 330e does.

Yes and that specifically says it is not a complete list. This has been discussed many times. The 45e is eligible for the credit until the end of the year, assuming guidance isn't issued prior to that.

[TurtleBoy]

Originally Posted by One Desi

Hope you're right.. I've rushed my order to take advantage of this credit before it gets too complex next year. Fingers crossed!

No need to hope, it is eligible.

[TurtleBoy]

Originally Posted by One Desi

It's same as of 09/15, and BMW doesn't have any idea on when it'll make it to the list per my communication with them.

While X5 meets criteria of 'final build within NA" which may make me believe that it's eligible for credits, I'm wondering why it's not on that list. Hope the list is updated soon!

It is on the list that BMW told you it is not on, that should tell you something. The other one depends on when data is submitted to two different organizations and isn't a source for credit info anyway.

[Aloux]

It is pretty clear to me that the 2023 X5 x45e is eligible. The only reason why the MY23 is not on the energy.gov list is because it was not yet released by the time the list was compiled. The x45e MY22 is on the list by the way.

The only extra requirement is the NA assembly. The check can easily be done using the VIN decoder here:https://afdc.energy.gov/laws/electri...it#vin-decoder. As all the x5 are manufactured in the USA, the VIN check will let you have the refund at time of filing (if you have enough tax burden for 2022).

Note: the second requirements (200K units sold) will not be reached by BMW and even if it was before the end of the year, it would have no impact as there is a sunset period anyway.

BMW or anyone will not guarantee the refund as there are other elements related to your tax situation and the only thing that they will say is to talk to your accountant. This was the case even before August 16th so no difference with the new law here.

[Aloux]

I did a little more reading. The list is updated for Model Year 2023 vehicles with final assembly in North America based on Fuel Economy labeling information and Part 583 data submitted by manufacturers to the U.S. Environmental Protection Agency and National Highway Traffic Safety Administration (NHTSA).

NHTSA is updated: https://www.nhtsa.gov/sites/nhtsa.go...al-8-30-22.pdf

However, I could not find the x45e yet on the Fuel Economy website. https://www.fueleconomy.gov/feg/Powe...=1&rowLimit=50

I believe that once the MY2023 shows up on the Fuel Economy website, it will also be updated on the list for the tax credit.

[TurtleBoy]

Originally Posted by Aloux

NHTSA is updated: https://www.nhtsa.gov/sites/nhtsa.go...al-8-30-22.pdf

However, I could not find the x45e yet on the Fuel Economy website. https://www.fueleconomy.gov/feg/Powe...=1&rowLimit=50

I believe that once the MY2023 shows up on the Fuel Economy website, it will also be updated on the list for the tax credit.

As I posted above, it has been on the fueleconomy website for quite awhile now. It is the listing of the credits that matters, not other sites or parts of that site.

https://www.fueleconomy.gov/feg/taxevb.shtml

[Aloux]

TurtleBoy I fully agree with you. My explanation is related to why https://afdc.energy.gov/laws/electri...for-tax-credit still does not show the MY23 x45e on its list despite being updated weekly. That particular list also referenced by the IRS website and therefore has been confusing many people. Anyway, the x45e is eligible but until that particular list is updated, we will continue to have people asking if it is real or not.

[TurtleBoy]

Originally Posted by Aloux

TurtleBoy I fully agree with you. My explanation is related to why https://afdc.energy.gov/laws/electri...for-tax-credit still does not show the MY23 x45e on its list despite being updated weekly. That particular list also referenced by the IRS website and therefore has been confusing many people. Anyway, the x45e is eligible but until that particular list is updated, we will continue to have people asking if it is real or not.

I know that, I was referring to your post saying the vehicle wasn't on fueleconomy.gov.