50e tax credit document

evendale · 10-13-2023, 09:27 PM

Hi guys, new to the forum. just pick up 50e today and we love it.

Quick question on tax credit document. The dealership did not even know this car is qualified for the tax credit. I searched online and found that dealer need to file a report to IRS, any idea which form they need? I already completed the purchase and picked up the car, is it still possible to ask them to file the report, or it has be at the time of sale? What if dealership did not file the report and I file form 8936 next year, will I be in trouble?

Will appreciate any help.

TurtleBoy · 10-13-2023, 09:50 PM

Welcome to the forum and congratulations on your new X5. You will be fine filing your 8936. There is nothing the dealer needs to do as far as I know since the eligibility for the credit comes through BMWNA via the information they give to the IRS.

evendale · 10-14-2023, 12:18 AM

Quote:

Originally Posted by TurtleBoy

Welcome to the forum and congratulations on your new X5. You will be fine filing your 8936. There is nothing the dealer needs to do as far as I know since the eligibility for the credit comes through BMWNA via the information they give to the IRS.

That is great, no need to deal with dealership, they really know nothing.

rundeyvoo · 10-14-2023, 01:32 AM

Quote:

Originally Posted by evendale

That is great, no need to deal with dealership, they really know nothing.

Lol this is so true! They are so clueless!

When I picked up my 45e in late December 2022, I asked them for details around tax credit for the vehicle. They said it was no longer eligible because they changed requirements in August 2022. Good thing I did my own research and also asked around bimmerpost, they gave me the info I needed

M2C4ME · 10-14-2023, 10:51 AM

Doesn’t msrp need to be below a certain dollar amount to be eligible?

TurtleBoy · 10-14-2023, 10:59 AM

Quote:

Originally Posted by M2C4ME

Doesn’t msrp need to be below a certain dollar amount to be eligible?

$80k for the X5.

evendale · 10-14-2023, 11:01 PM

Quote:

Originally Posted by TurtleBoy

$80k for the X5.

that is right, and it is without destination fee.

evendale · 10-14-2023, 11:08 PM

Quote:

Originally Posted by rundeyvoo

Lol this is so true! They are so clueless!

When I picked up my 45e in late December 2022, I asked them for details around tax credit for the vehicle. They said it was no longer eligible because they changed requirements in August 2022. Good thing I did my own research and also asked around bimmerpost, they gave me the info I needed

I am surprised entire dealership sales did not know 50e is qualified. It has been several months since news came out.

eelnoraa · 10-15-2023, 02:07 AM

Quote:

Originally Posted by evendale

I am surprised entire dealership sales did not know 50e is qualified. It has been several months since news came out.

I would rather they say they don't know than give out misinformation tho. And honestly, why should we expect sale persons in car dealerships know accurate tax rule, right?

jad03060 · 10-16-2023, 02:02 AM

If I remember, all you need is the model and VIN to fill out the tax form. Since they added the price cap, you may need to supply that number as well.

M2C4ME · 10-16-2023, 06:32 PM

Quote:

Originally Posted by TurtleBoy

$80k for the X5.

Is it msrp before options? When I build one it gets up there and then some. So if I want the credit I have to keep it all below $80k?

rainmn60 · 10-16-2023, 06:34 PM

Quote:

Originally Posted by M2C4ME

Is it msrp before options? When I build one it gets up there and then some. So if I want the credit I have to keep it all below $80k?

My understanding is that it’s MSRP with options, without the destination charge.

jad03060 · 10-16-2023, 07:03 PM

Many people will find keeping their X5 50e less than $80K will be hard. It's possible, but many of the options are just nice to have. You have to pay to play. It was nicer with my 45e, but the, at the time, the inflation hadn't hit the base costs of things as much.

10-13-2023, 09:27 PM	#1
evendale Registered 0 Rep 4 Posts Drives: G05 50e, A90 Supra Join Date: Oct 2023 Location: TX iTrader: (0)	50e tax credit document Hi guys, new to the forum. just pick up 50e today and we love it. Quick question on tax credit document. The dealership did not even know this car is qualified for the tax credit. I searched online and found that dealer need to file a report to IRS, any idea which form they need? I already completed the purchase and picked up the car, is it still possible to ask them to file the report, or it has be at the time of sale? What if dealership did not file the report and I file form 8936 next year, will I be in trouble? Will appreciate any help. Attached Images
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10-13-2023, 09:50 PM	#2
TurtleBoy General 13708 Rep 20,381 Posts Drives: 2019 X5 40i,2021 M340i Join Date: Jan 2019 Location: Colorado iTrader: (0)	Welcome to the forum and congratulations on your new X5. You will be fine filing your 8936. There is nothing the dealer needs to do as far as I know since the eligibility for the credit comes through BMWNA via the information they give to the IRS. __________________ 2021 BMW G20 M340i xDrive - Verde Ermes/Black - 03/2024.40 2019 BMW G05 X5 xDrive40i - Phytonic Blue/Cognac - 11/2023.50
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10-14-2023, 10:51 AM	#5
M2C4ME Enlisted Member 50 Rep 43 Posts Drives: G80 M3. Join Date: Jun 2018 Location: Hilton Head Island SC iTrader: (0)	Doesn’t msrp need to be below a certain dollar amount to be eligible?
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10-16-2023, 02:02 AM	#10
jad03060 Major General 3243 Rep 6,946 Posts Drives: X5 45e Join Date: Aug 2018 Location: NH iTrader: (0)	If I remember, all you need is the model and VIN to fill out the tax form. Since they added the price cap, you may need to supply that number as well.
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10-16-2023, 07:03 PM	#13
jad03060 Major General 3243 Rep 6,946 Posts Drives: X5 45e Join Date: Aug 2018 Location: NH iTrader: (0)	Many people will find keeping their X5 50e less than $80K will be hard. It's possible, but many of the options are just nice to have. You have to pay to play. It was nicer with my 45e, but the, at the time, the inflation hadn't hit the base costs of things as much.
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