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If I change my reservation to an order for an ultra will I get a vin number early next year to do my taxes by April?
Vin numbers
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Ultras won't go into production until Q3 2023.
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Yes but in order to get the credit I have to sign a binding contract by Friday it seems. How can I take the credit this year if I get the vin too late
Nothing is 100%. We don't even know if the $250 is going to work. Fisker is making the $250 non-refundable so that you have a purchase agreement/contract in place. If it doesn't work out, the worst case is you lose $250.
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I understand it's not certain my questions assumes it's fact and whether fisker will hand out vin numbers early next year to all orders so we can do our taxes
Again, The Ultra is not going into production until Q3. I'd say it is highly unlikely.
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So ok how would someone take the credit then. Just trying to figure things out
I'd talk to your tax advisor. I can't give tax advice, unfortunately.
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You can give it, we’d just be foolish to take it😁
You get the credit for your tax filing following possession of your vehicle. Guessing when you file your 2023 taxes.
Agree (and Fisker also stated) to talk to your tax advisor. As this is all new (and not even signed yet), there has been no guidance issued. The way I interpreted the bill (as a layman) is that regardless of when you get the car; it will be considered "placed in service" the day before the bill is signed; as such, the placed in service date will be 2022 so it will need to be in the 2022 tax filing. If you do not have the car delivered yet by when you file your taxes (or 4/15); you can either file for an extension or you can file an amendment to the taxes once you receive the car (you can file an amendment up to three years after the date you originally filed).
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I went ahead and converted my Ultra reservation to an order, figuring worst case I lose $250 and best case I save $7,500. Given the schedule to Ultra production, I'm assuming I will have to file an amendment to my TY22 return. Others have said an extension to file in October is also possible but as delivery date is a bit up in the air at the moment, my plan is to file TY22 as normal, then do an amended return to claim (hopefully) the credit after delivery.
YMMV...not a certified tax professional, nor do I play one on TV.
YMMV...not a certified tax professional, nor do I play one on TV.
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