expiredxTorquEx posted Apr 05, 2024 05:46 PM
Item 1 of 2
Item 1 of 2
expiredxTorquEx posted Apr 05, 2024 05:46 PM
2024 Tesla Model Y + $7,500 Federal Tax Credit
(For Qualified Buyers)$40,490
$44,990
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Deal Details
Tesla has dropped the base price of the Tesla Model Y from $44,990 down to $40,490. All Model Y vehicles also qualify for the $7,500 Federal Tax Credit (details here).
Thanks to Community Member xTorquEx for finding this deal.
Available models:
Thanks to Community Member xTorquEx for finding this deal.
Available models:
- Tesla Model Y (Standard Range) from $40,490
- Tesla Model Y (Long Range) from $44,990
- Tesla Model Y (Performance Dual Motor All-Wheel Drive) from $48,140
Editor's Notes
Written by megakimcheelove | Staff- To qualify for the federal tax credit, one must not exceed the following adjusted gross income limits:
- $300,000 for married couples filing jointly
- $225,000 for heads of households
- $150,000 for all other filers
- The tax credit is not refundable, which means one must have federal tax due to take advantage of it. If the tax due is less than the credit amount, one can only claim the credit up to the amount of the tax due.
- Get 1%-5% cash back on deals like this with a cash back credit card. Compare the available cash back credit cards here.
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Tesla has dropped the base price of the Tesla Model Y from $44,990 down to $40,490. All Model Y vehicles also qualify for the $7,500 Federal Tax Credit (details here).
Thanks to Community Member xTorquEx for finding this deal.
Available models:
Thanks to Community Member xTorquEx for finding this deal.
Available models:
- Tesla Model Y (Standard Range) from $40,490
- Tesla Model Y (Long Range) from $44,990
- Tesla Model Y (Performance Dual Motor All-Wheel Drive) from $48,140
Editor's Notes
Written by megakimcheelove | Staff- To qualify for the federal tax credit, one must not exceed the following adjusted gross income limits:
- $300,000 for married couples filing jointly
- $225,000 for heads of households
- $150,000 for all other filers
- The tax credit is not refundable, which means one must have federal tax due to take advantage of it. If the tax due is less than the credit amount, one can only claim the credit up to the amount of the tax due.
- Get 1%-5% cash back on deals like this with a cash back credit card. Compare the available cash back credit cards here.
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Top Comments
There's a pattern with Tesla threads here. I don't care if you all wanna discuss the deal or the cars but it always turns into paaaages and paaaages of bickering back and forth and nobody ,except for the few involved, enjoy that or wanna wade through that. So cut that stuff out, please and thank you.
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1. Reliability
2. Cost of Repair
3. Depreciation
What are y'all's thoughts on this?
but showing the traffic visualization is part of premium connectivity
https://www.tesla.com/support/connectivity
I will short some TSLA stock tomorrow, maybe i will get a car for free end of this year
But I would tell everyone to avoid any of their cars from the first year of model production. Model 3 and Y took about a year to really reach "acceptable" / "design complete" - same can be said about the Cybertrucks people are getting today.
That said - these cars, with incentives and our driving habits - made perfect sense. They've both proven to be very well made cars, with no panel gap issues to speak of.
However everyone I've known with a 2018/2019 Model 3 or 2020 Model Y has talked about the thousands of dollars of "Free" warranty work their cars received to reconcile issues due to immature/incomplete design decisions.
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Topic H, Q3 says the buyer must meet eligibility requirements in topic A:
Q3. What are the requirements a buyer must meet to be eligible to transfer the New Clean Vehicle Credit or Previously Owned Clean Vehicle Credit to a registered dealer? (added Oct. 6, 2023)
A3. A buyer must meet all eligibility requirements for the New Clean Vehicle Credit or Previously Owned Clean Vehicle Credit, as applicable. See Topic A, Topic B, Topic D and Topic E.
Topic A includes Q7:
Q7. Is the New Clean Vehicle Credit refundable or able to be carried forward? (updated Oct. 6, 2023)
A7. The New Clean Vehicle Credit may be claimed only to the extent of reported tax due of the taxpayer and cannot be refunded. The New Clean Vehicle Credit cannot be carried forward to the extent it is claimed for personal use on Form 1040, Schedule 3, Additional Credits and Payments. However, the New Clean Vehicle Credit can be carried forward to the extent it is claimed for business use on Form 3800, General Business Credit, as otherwise appropriate. See Topic H FAQ 3 regarding transfer of the Clean Vehicle Credits.
Question 4 is very specific,
"A4. The amount of the credit that the electing taxpayer elects to transfer to the eligible entity may exceed the electing taxpayer's regular tax liability for the taxable year in which the sale occurs, and the excess, if any, is not subject to recapture from the dealer or the buyer. "
so the dealer, in this case, tesla, will not deal with any recapture if you do not qualify. This does not mean that topic H Q3 does not matter, it specifically states how the dealer, not the buyer and not the IRS, handles the credit for the purposes of being point of sale
It means that per Topic A, Q7, if the buyer doesn't actually qualify, they will have issues come tax time. The only way that tesla was able to help you fill out the form 15400 was to use your SSN, can you guess who they submitted the F15400 to? the IRS
When they find that tesla reported the F15400 that stated you claimed a POS credit, but you don't file a return or you file a return and you don't actually have $7,500 of tax or have income over the limit and don't actually qualify... you may get a surprise in the mail
you need to read the entire Q&A, not just the sections you skim over.
Downside is resale value, and I blame Hertz for what should be a temporary matter (and this may be partly why Tesla is having issues moving new inventory), but this car will be handed down due to its reliability should I ever decide to purchase a replacement. I've felt since the beginning that i was buying a care that would last 2 to 4x longer than any other car I've purchased prior. If I lose, or win, the battery lottery and it craps out after the 120k warranty I'll gladly plop down $15k for a replacement battery. Best car ever.
Topic H, Q3 says the buyer must meet eligibility requirements in topic A:
Q3. What are the requirements a buyer must meet to be eligible to transfer the New Clean Vehicle Credit or Previously Owned Clean Vehicle Credit to a registered dealer? (added Oct. 6, 2023)
A3. A buyer must meet all eligibility requirements for the New Clean Vehicle Credit or Previously Owned Clean Vehicle Credit, as applicable. See Topic A, Topic B, Topic D and Topic E.
Topic A includes Q7:
Q7. Is the New Clean Vehicle Credit refundable or able to be carried forward? (updated Oct. 6, 2023)
A7. The New Clean Vehicle Credit may be claimed only to the extent of reported tax due of the taxpayer and cannot be refunded. The New Clean Vehicle Credit cannot be carried forward to the extent it is claimed for personal use on Form 1040, Schedule 3, Additional Credits and Payments. However, the New Clean Vehicle Credit can be carried forward to the extent it is claimed for business use on Form 3800, General Business Credit, as otherwise appropriate. See Topic H FAQ 3 regarding transfer of the Clean Vehicle Credits.
Question 4 is very specific,
"A4. The amount of the credit that the electing taxpayer elects to transfer to the eligible entity may exceed the electing taxpayer's regular tax liability for the taxable year in which the sale occurs, and the excess, if any, is not subject to recapture from the dealer or the buyer. "
so the dealer, in this case, tesla, will not deal with any recapture if you do not qualify. This does not mean that topic H Q3 does not matter, it specifically states how the dealer, not the buyer and not the IRS, handles the credit for the purposes of being point of sale
It means that per Topic A, Q7, if the buyer doesn't actually qualify, they will have issues come tax time. The only way that tesla was able to help you fill out the form 15400 was to use your SSN, can you guess who they submitted the F15400 to? the IRS
When they find that tesla reported the F15400 that stated you claimed a POS credit, but you don't file a return or you file a return and you don't actually have $7,500 of tax or have income over the limit and don't actually qualify... you may get a surprise in the mail
you need to read the entire Q&A, not just the sections you skim over.
This exactly. Notice the IRS is very specific here:
"A4. The amount of the credit that the electing taxpayer elects to transfer to the eligible entity may exceed the electing taxpayer's regular tax liability for the taxable year in which the sale occurs, and the excess, if any, is not subject to recapture from the dealer or the buyer. "
Pay attention to the terms they use. The "taxpayer" and the "buyer" are not the same entity. Buyer here is probably referring to the dealer (buying and reselling).
I know of to many people who own Tesla's for over two years and they have yet to have one problem.
it's the same credit with the same requirements, the only diff is that in 2024, you can elect to redeem it at the point of sale if you wanted, you can still wait til tax season and take it just like in 2023. all the other requirements are the same
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Downside is resale value, and I blame Hertz for what should be a temporary matter (and this may be partly why Tesla is having issues moving new inventory), but this car will be handed down due to its reliability should I ever decide to purchase a replacement. I've felt since the beginning that i was buying a care that would last 2 to 4x longer than any other car I've purchased prior. If I lose, or win, the battery lottery and it craps out after the 120k warranty I'll gladly plop down $15k for a replacement battery. Best car ever.
I feel that he is trying to kill the competition and it seemed to work.
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