Last Updated : January 14, 2009
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8882

Form 8911

Alternative Fuel Vehicle Refueling Property Credit


PURPOSE OF THE FORM :

Use form 8911 to figure your credit for alterantive fuel vehicle refueling property youplaced in service during the tax year. The credit attributable to depreciable property (refueling property used for business or investment purposes) is treated as a general business credit.
Any credit not attributable to depreciable property is treated as a personal credit.

AMOUNT OF CREDIT:
The credit is generally the lower of 30% of the property's cost or :

  • $30000 for each property of a character subject to an allowance for depreciation (business / investment use property),
  • $1000 for each property of a character not subject to an allowance for depreciation (personal use property)

Each property's cost must be first reduced by any section 179 expense deduction taken for the property.

QUALIFIED ALTERNATIVE FUEL VEHICLE REFUELING PROPERTY:
Qualified Alternative fuel vehicle refueling property is any property (other than building or its structural components) used to do either of the following:

  • Store or dispense a clean - burning fuel into the fule tank of a motor vehicle propelled by the fuel, but only if the storage or dispensing is at the point where the fuel is delivered into that tank.
  • Recharge motor vehicles propelled by electricity, but only if the property is located at the point where the vehicles are recharged.

In addition, the following requirements must be met to Qualify for the credit.

  • The taxpayer placed the refueling property in service after 2006.
  • The original use of the property began with the taxpayer.
  • The taxpayer acquired the property for his use or to lease to others, and not for reslae.
  • THe taxpayer use the refueling property primarily in the United States.
  • If the property is not business/ investment use property, the property must be installed on property used as your main home.

PART - I TOTAL COST OF REFUELING THE PROPERTY:

Line 1:
Enter on this line the total cost of Qualified alterantive fuel vehicle refueling property palced in service during that tax year.

PART - II CREDIT FOR BUSINESS/INVESTMENT USE PART OF REFUELING PROPERTY:

Line 2:
Enter on this line the business/investment use part of the total cost.
To figure the business/investment use part of the total cost , multiply the cost of each seperate refueling property by the percentage of business/investment use for that properety.If during the tax year the taxpayer converts the property used solely for personal purposes to figure the percentage of business/investment use only for the number of months you use the property in your business or for the production of income. Multiply that percentage by the number of months you use the property in your business or for the production of income and divide the result by 12.

Line 3:
Enter on this line any section 179 expense deduction the taxpayer claimed for the property from PART I of FORM 4562, Depreciation and Amortization.

Line 4:
The program subtracts line 3 from line 2 and enters the result on this line.

Line 5:
The program multiplies line 4 by 30% (limit fixed for 2006) and enters the result on this line.

Line 6:
Enter $30000 if the taxpayer has one refueling property with business/investment use.

  • If the taxpayer has more than one refueling property with business/investment use , but no one property would result in an amount of more than $30000 if that property were reported seperately on line 5, enter the amount from line 5 on line 6.
  • If you have more than one refueling property with business/investment use, and at least one property would result in an amount of more than $30000 on line 5 if that property were reported seperately, add the seperate amounts for each property , but donot include in the total more than $30000 for any single property.

Line 7:
The program calculates the lower of line 5 or line 6 and enters the result here.

Line 8:
The amount on this line comes from schedule K-1P/S and schedule K-1ET line named Alternative Fuel Vehicle Refueling Property Credit.

Line 9:
The program calculates the business / investment use part of credit by adding lines 7 and line 8. This line is also reported on FORM 3800.


PART - III CREDIT FOR PERSONAL USE PART OF REFUELING PROPERTY :

Line 10:
The program subtracts line 2 from line 1 and enters the result on this line.

Line 11:
The program multiplies line 10 by 30% (limit fixed for 2006) and enters the result on this line.

Line 12:
If the taxpayer has only one refueling proeprty with personal use , enter $1000.

  • If the taxpayer has more than one refueling property with personal use, but no one property would result in an amount of fmroe than $1000 if that property were reported seperately on line 11, enter the amount from line 11 on line 12.
  • If the taxpayer has more than one refueling property with personal use, and at least one property would resut in an amount of more than $1000 on line 11 if that proeprty were reported seperately, add the seperate amounts for each property, but donot include in the total more than $1000 for any single property.

Line 13:
The program enters the lower of line 11 or line 12 and enters the result here.

Line 14:
The amount on this line comes from FORM 1040 line 44 (tax) or FORM 1040NR line 41(tax).

Line 15a:
The amount on this line comes from FORM 1040 :
total of line 47 (child and dependent care benefits), line 48 ( credit for elderly and disabled) , line 49 (education credtis), Line 50 (residential energy credits) , line 52 (child tax credit) , line 53 ( Retirement savings contribution credit) , line 54 ( form 8396 line 13) , (form 8859 line 13) , (form 8839 line 18) .
OR from FORM 1040NR:
total of line 44 (child & dependent care benefits) , line 45 (residential energy credits) , line 47 (child tax credit) , line 48 (retirement savings contribution credit) , line 49 ( form 8396 line 13) , (form 8859 line 13) , (form 8839 line 18) .

Line 15b:
The amount on this line comes from FORM 1040 line 51 (foreign tax credit) or FORM 1040NR line 46(foreign tax credit).

Line 15c:
The amount on this line comes from Form 8834 line 20 (qualified electric vehicle credit).

Line 15d:
The amount on this line comes from Form 8910 line 18 (Alternative Motor vehicle credit).

Line 15e:
The program adds line 15a through line 15d and enters the result here.

Line 16:
The program subtracts line 15e from line 14 and enters the result on this line. If the result is negative then it is set as zero.

Line 17:
The amount on this line comes from FORM 6251 line 33 (tentative Minimum tax).
Although you may not owe Alternative Minimum tax , you must still foigure the tentative minimum tax to figure your allowable credit.

Line 18:
The program subtracts line 17 from line 16 and enters the result on this line. If the result is negative then it is set as zero.

Line 19:
The program enters the lower of line 13 or line 18 here and reports this amount on FORM 1040 line 55 or FORM 1040NR line 50.
If you cannot use part of the personal portion of the credit because of the tax liability limit, the unused credit is lost.
The unused personal portion of the credit cannot be carried back or forward to other tax years.

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