[gfmonk]

Hi All!

My wife and I are thinking of purchasing a 2018 Niro Plug in Hybrid and I can't seem to find any information on it at all when it comes to the tax credit. Does anyone have any information on what the credit is or if there is a federal tax credit for the Niro?

Thank you for any information.

Gary

 

[jacobstump]

https://www.fueleconomy.gov/feg/taxevb.shtml

It was literally there one week ago. It's gone now, and I have no idea why....

This could definitely affect my current order for the vehicle... I'll let you know if I find out anything more.

 

[jacobstump]

Well maybe I'm wrong. The Wayback Machine says it never had the Niro - but the Hyundai Ioniq is still there, so it should still qualify.

Here's a link to an article on this forum saying that the tax credit is $4,543, based on the 8.9kWh battery: http://www.kianiroforum.com/forum/55-kia-niro-dealers-pricing-orders-leases/2666-plug.html

 

[olimpiaKIA]

Why is the Niro not on the list?

 

[Griswald]

Why is ANY car on the list????

I don't feel like paying for your car.

 

[kpauburn]

Why is the Niro not on the list?

Were any Niro Plug-ins sold in 2017? It will definitely be on next year's list.

 

[MarkfromFla]

By what was told to me by my accountant it's a $4500 tax credit on plugin. Now, that's 4500 of you income that is tax exempt or around 750 bucks savings. Not the reason to buy the plug-in.

 

[yticolev]

The tax credit is actually a credit on your taxes, not your income. If your income tax on whatever income is say $5,000, the amount you will owe is $500. A $4,500 savings. An accountant who doesn't know the difference between a tax credit and a deduction is should be canned. "You're fired!"

Some tax credits are "refundable", meaning if your tax paid is zero, the government will send you a check in the amount of the credit. This is not a refundable credit, so your income taxes have to be over $4,500 to take full advantage.

 

[fredct]

By what was told to me by my accountant it's a $4500 tax credit on plugin. Now, that's 4500 of you income that is tax exempt or around 750 bucks savings. Not the reason to buy the plug-in.

You need a new accountant.

A tax credit is a dollar for dollar reduction in your taxes owed.

What you describe, a reduction in taxable income, is a tax *deduction*.

 

[csj78748]

I checked the EPA list and it only includes vehicles through model year 2017. The Kia Niro PHEV is new for 2018 and I'm sure it will be included once the list is updated for this year.

 

[Rob the Kia Sales Guy]

Kia Niro PHEV Tax Credit

Email me at [email protected] and I'll be happy to provide the docs from Kia as well as the IRS form you need to fill out. I tried to upload it but it's too big (that's what she said LOL > )

THANKS!

 

[Rob the Kia Sales Guy]

Here is a link to the file I offered to send out.

https://drive.google.com/file/d/1rXQnQZDWnHJxYmAw9G2N7JVPoiKplY_0/view?usp=sharing

Thanks to a user who emailed me and suggested I do this. It IS the 2016 form but he was able to find the 2017 form with this link. It also shows how the credit is calculated and some other good info.

 

[ravivedala]

Is there a state tax credit too? My sales guy told me Federal $4500, State $2000 for 2018 Kia Niro PHEV EX.

 

[dontfret]

Is there a state tax credit too? My sales guy told me Federal $4500, State $2000 for 2018 Kia Niro PHEV EX.

In California there is a $1500 rebate for 2018 Kia Niro PHEV. Not a tax credit, a straight rebate check.

 

[ravivedala]

Does anyone know, if there's a rebate available in Massachusetts?

 

[charlesH]

Does anyone know, if there's a rebate available in Massachusetts?

Google?

$1500

https://mor-ev.org/eligible-vehicles

 

[Beth]

In California there is a $1500 rebate for 2018 Kia Niro PHEV. Not a tax credit, a straight rebate check.

There are income limits for it in CA...

Annual household income must be at or below the income caps listed below.

• $150,000 for single filers
• $204,000 for head-of-household filers
• $300,000 for joint filers

 

[cockedandglocked]

There are income limits for it in CA...

Annual household income must be at or below the income caps listed below.

• $150,000 for single filers
• $204,000 for head-of-household filers
• $300,000 for joint filers

And they are sloooooooooooow. I submitted the app for mine over 2 months ago, still haven't heard a peep from them.

 

[hawke]

I'm presently preparing our federal tax return. It appears I need to complete both Form 8936 and Schedule 3 along with Form 1040 in order to claim the tax credit of $4,543 for purchasing a Niro PHEV in July, 2018. Am I correct in my understanding about what forms I need to complete in order to claim the tax credit?

 

[gardavis]

The 2019 Niro PHEV is now listed as qualifying at https://www.irs.gov/businesses/irc-30d-new-qualified-plug-in-electric-drive-motor-vehicle-credit

Form 8936 is correct but I don't see anything in Schedule 3 for this credit. The $4,543 is based on the 8.9kWh battery.

The calculation is 2500 + 417 + (417 * (8.9 - 5)) = 4543.30