I followed up with the dealership I got my Wrangler 4xe from and they told me that "FCA will handle it". The dealership did report the sale to FCA as, like you, I received all the Sirius notifications of Wave activation and it has an "In-Service" date which is the date I bought mine. The only thing that gave me pause/concern is that I financed my Wrangler from a personal bank (not the dealership) , so I don't remember actually providing my SSN to the dealership. I did talk to Patty at Jeep Wave and they said not to worry about any of that, as the purchase agreement would certainly provide the required proof. I even called the IRS helpline and the agent I talked to at the IRS said not to worry about it, as it is literally a brand new process and even the IRS department was not aware of "how" they would tell Sellers to communicate the sale to the IRS. The IRS Agent could not tell me the name of any form/letter that a Seller has to submit, and I am sure (cause the government is all about forms) that there will be some sort of further guidance/instructions put out there about it in the future. Ultimately I have the paperwork on my purchase that is all signed/dated. The state has the registration. When I file my 2023 Federal returns (in late Jan of 2024) I will complete the forms in accordance with IRS Guidance. Credits for New Clean Vehicles Purchased in 2023 or After | Internal Revenue Service There is also guidance given here: Federal Tax Credits for Plug-in Electric and Fuel Cell Electric Vehicles Purchased in 2023 or After which walks you through the amount and forms needed to be filed.
Question about (new) tax credit procedures (if you work at a dealer, help me out!)
I just bought a new 4xe last week. It's not my first tax credit-eligible vehicle, I previously have owned a Tesla and got the tax credit. Back then, there was no reporting from the dealership (or manufacturer, in Tesla's case) to the IRS that you purchased the vehicle
However, now with the new tax credit, dealers are supposed to report the vehicle, your social, the eligible amount, etc to the IRS. As part of this, the dealer is supposed to give you a report at the time of delivery with all those details on it
My dealer did not give me that report. I'm less concerned about that, and more concerned they aren't going to report my sale to the IRS (or, any of the other likely hundreds of 4xes they will sell through the year)
I have to go back to the dealer to pick up some wheels they've ordered for me, so I plan to talk to them then, but in case they just give me a line of BS to get rid of me, I have a couple of questions
However, now with the new tax credit, dealers are supposed to report the vehicle, your social, the eligible amount, etc to the IRS. As part of this, the dealer is supposed to give you a report at the time of delivery with all those details on it
My dealer did not give me that report. I'm less concerned about that, and more concerned they aren't going to report my sale to the IRS (or, any of the other likely hundreds of 4xes they will sell through the year)
I have to go back to the dealer to pick up some wheels they've ordered for me, so I plan to talk to them then, but in case they just give me a line of BS to get rid of me, I have a couple of questions
- Does anyone know if maybe FCA is handling this reporting? The dealer did complete the new vehicle purchase steps with FCA as I got all the new owner emails, setup my online account with Mopar, activated my SXM and Guardian trials, etc. so I'm a little curious if that will trigger FCA to report this instead of the dealer
- Does anyone who works at a dealership know if there's some FCA guidance I can point the dealership to regarding this process? Would be a lot better if I can show them some documentation that tells them step by step what to do
- If they don't report, will the IRS reject my filing next year for the credit?
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Thanks for the feedback. I think I am going to ask them about it, expect to get a non-answer, and just file next year and see what happens.
I bought my Rubicon 4xe ast year my tax person said all I needed was the VIN and give them a copy of the sales receipt in case of an audit no issues. All my paperwork ce from the dealership as a a PDF on a thumb drive and via email. I did get the full $7500 credit on my taxes with changes this year it is a no go for me.
This is exactly the experience I had with my CPA. I gave him a copy of the sales receipt and filled out the Federal form mostly and that was it.I bought my Rubicon 4xe ast year my tax person said all I needed was the VIN and give them a copy of the sales receipt in case of an audit no issues. All my paperwork ce from the dealership as a a PDF on a thumb drive and via email. I did get the full $7500 credit on my taxes with changes this year it is a no go for me.
I bought my Rubicon 4xe ast year my tax person said all I needed was the VIN and give them a copy of the sales receipt in case of an audit no issues. All my paperwork ce from the dealership as a a PDF on a thumb drive and via email. I did get the full $7500 credit on my taxes with changes this year it is a no go for me.
The rules and procedures for this year are different from all previous years. I previously owned a Tesla so I know how the process worked before, but now the IRS rules have requirements for the dealer to report the sale which did not exist previouslyThis is exactly the experience I had with my CPA. I gave him a copy of the sales receipt and filled out the Federal form mostly and that was it.
Also has income restrictions now which they didn't last year. I may end up leasing then buy out the lease when it is up
In almost all circumstances, it makes the most sense to lease a 4xe and then buy out the lease (immediately if your intent is to purchase) for the much larger incentive stack.
Also no need to deal with any of this reporting drama if you go that route.
Also no need to deal with any of this reporting drama if you go that route.
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