EQS tax credit
Thread Starter
MBWorld Fanatic!
Joined: Oct 2014
Posts: 4,524
Likes: 1,181
From: WI
17 E43; 21 GLS580
EQS tax credit
Good news for those that bought your EQS before the current EV rules were enacted. You qualify for the EV credit. Just confirmed by my tax guy at Wippfli.
I guess I did prettty good. MB honored my original price (pre price hike) got the 7500 credit and the EV station credit. On all around 13k saved
I guess I did prettty good. MB honored my original price (pre price hike) got the 7500 credit and the EV station credit. On all around 13k saved
Thread Starter
MBWorld Fanatic!
Joined: Oct 2014
Posts: 4,524
Likes: 1,181
From: WI
17 E43; 21 GLS580
Member
Joined: Jan 2021
Posts: 152
Likes: 50
911
Thread Starter
MBWorld Fanatic!
Joined: Oct 2014
Posts: 4,524
Likes: 1,181
From: WI
17 E43; 21 GLS580
It would have been ridiculous, essentially no EQS 580 buyer would have gotten the original price! I got the first EQS 580 that made it to Wisconsin and I had to wait about 8 mths. Thankfully it was worth the wait, quite frankly the best car Ive ever driven and Ive driven quite a few few! The only thing I regret was not ordering the Pinnacle model, in the big picture the price differential was peanuts. Just for the adjustable rear rear seats. I did order the rear heated seats but the seats are a little too straight for my personal preference.
MBWorld Fanatic!
Joined: Jun 2010
Posts: 2,757
Likes: 957
From: Atlanta
2022 Mercedes EQS 580
Your dealer did a good job. In my case my dealer didn’t budge so I wrote to MB CEO and they reached out to dealer to arrange the credit.
Junior Member
Joined: May 2022
Posts: 18
Likes: 3
From: California
2022 EQS
Trending Topics
Member
Joined: Jan 2021
Posts: 152
Likes: 50
911
MB World Stories
The Best of Mercedes & AMG
Manual Mercedes? 6 Times Sindelfingen Let Drivers Have All The Fun
Verdad Gallardo
Mercedes SLR McLaren 722 S Is Extremely Rare Example Modified by McLaren
Verdad Gallardo
8 Classic Boxy Mercedes Designs That Have Aged Like Fine Wine
Verdad Gallardo
Flawlessly Restored Mercedes 190E Evo II Heads to Auction
Verdad Gallardo
Electric Mercedes C-Class Unveiled: 11 Things You Need to Know
Verdad Gallardo
Mercedes EQS Gets A Major Update: Everything You Need to Know
Verdad Gallardo
5 Underrated Mercedes-Benz Models That Don't Get the Love They Deserve
Verdad Gallardo
Mercedes 300D Has Pushed Well Past 1 Million Miles and It Ain't Stopping
Verdad Gallardo
10 Most Reliable Mercedes-Benz Models You Can Buy Used
Verdad Gallardo
Thread Starter
MBWorld Fanatic!
Joined: Oct 2014
Posts: 4,524
Likes: 1,181
From: WI
17 E43; 21 GLS580
In fact they can do so, but any dealer worth his salt will figure it out for you. This only applies to orders before the price increase last year.
Last edited by c4004matic; Sep 27, 2022 at 05:15 PM.
Member
Joined: May 2022
Posts: 185
Likes: 59
From: Bay Area, California
EQS580
Based on the IRS website https://home.treasury.gov/system/fil...redit-FAQs.pdf
If we ordered our car prior to Aug 16th then we still qualify for the Credit. Is the Order with the deposit considered a binding contract?
Q: If I signed a contract to purchase an electric vehicle prior to enactment of the Inflation Reduction Act (before August 16, 2022) but have not yet taken possession of the vehicle, will the changes in the Inflation Reduction Act impact my tax credit?
A: No. If you entered into a written binding contract to purchase a qualifying electric vehicle before the date of enactment of the Inflation Reduction Act (August 16, 2022), the changes in the Inflation Reduction Act will not impact your tax credit. You may claim the credit based on the rules that were in effect before August 16, 2022. The Internal Revenue Service provides information on “written binding contract” here: https://www.irs.gov/businesses/plug-...30-and-irc-30d.
If we ordered our car prior to Aug 16th then we still qualify for the Credit. Is the Order with the deposit considered a binding contract?
Q: If I signed a contract to purchase an electric vehicle prior to enactment of the Inflation Reduction Act (before August 16, 2022) but have not yet taken possession of the vehicle, will the changes in the Inflation Reduction Act impact my tax credit?
A: No. If you entered into a written binding contract to purchase a qualifying electric vehicle before the date of enactment of the Inflation Reduction Act (August 16, 2022), the changes in the Inflation Reduction Act will not impact your tax credit. You may claim the credit based on the rules that were in effect before August 16, 2022. The Internal Revenue Service provides information on “written binding contract” here: https://www.irs.gov/businesses/plug-...30-and-irc-30d.
Junior Member
Joined: May 2022
Posts: 18
Likes: 3
From: California
2022 EQS
I do want to acknowledge the excellent customer service provided by Mercedes-Benz USA. I would strongly encourage all to get in touch with them should they have issues that their dealership is refusing to properly address.
MBWorld Fanatic!
Joined: Jun 2010
Posts: 2,757
Likes: 957
From: Atlanta
2022 Mercedes EQS 580
Good news for those that bought your EQS before the current EV rules were enacted. You qualify for the EV credit. Just confirmed by my tax guy at Wippfli.
I guess I did prettty good. MB honored my original price (pre price hike) got the 7500 credit and the EV station credit. On all around 13k saved
I guess I did prettty good. MB honored my original price (pre price hike) got the 7500 credit and the EV station credit. On all around 13k saved
MBWorld Fanatic!
Joined: Feb 2014
Posts: 1,938
Likes: 396
From: Iowa
2025 EQS580
Don’t all dealerships give the $7,500 tax credit automatically as long as the purchase was prior to that deadline in August? If so, then why do you need to bring it to the attention of your CPA?
Super Member
Joined: Nov 2021
Posts: 825
Likes: 263
From: NE KY, on the Ohio River
2018 S560; 2022 EQS450+
If you have purchased the car rather than leasing it, tax credits are between you and the federal and/or state.governments, showing up on your tax returns. The dealer is not involved.
I took my federal credit for my December, 2021 car purchase on my 2021 federal 1040 return filed last spring in April, 2022.
I cannot speak to how it might be handled on a car lease. From what I’ve seen here, it can apparently vary.
Last edited by Newbyloub; Oct 20, 2022 at 08:37 PM.
MBWorld Fanatic!
Joined: Feb 2014
Posts: 1,938
Likes: 396
From: Iowa
2025 EQS580
No.
If you have purchased the car rather than leasing it, tax credits are between you and the federal and/or state.governments, showing up on your tax returns. The dealer is not involved.
I took my federal credit for my December, 2021 car purchase on my 2021 federal 1040 return filed last spring in April, 2022.
I cannot speak to how it might be handled on a car lease. From what I’ve seen here, it can apparently vary.
If you have purchased the car rather than leasing it, tax credits are between you and the federal and/or state.governments, showing up on your tax returns. The dealer is not involved.
I took my federal credit for my December, 2021 car purchase on my 2021 federal 1040 return filed last spring in April, 2022.
I cannot speak to how it might be handled on a car lease. From what I’ve seen here, it can apparently vary.
Super Member
Joined: Nov 2021
Posts: 825
Likes: 263
From: NE KY, on the Ohio River
2018 S560; 2022 EQS450+
Since the dealer didn’t con you into a phony price, you didn’t really save anything on the price.
Last edited by Newbyloub; Oct 20, 2022 at 10:39 PM.
Super Member
Joined: Jan 2022
Posts: 981
Likes: 555
Old thread, but....just so you know. Bought my car on 1/2/2022. Just did my 2022 taxes with Turbotax. Got $7500 tax credit for my EQS, and $105 tax credit for my ChargePoint HomeFlex. Pretty good deal, if you ask me.
MBWorld Fanatic!
Joined: Feb 2014
Posts: 1,938
Likes: 396
From: Iowa
2025 EQS580
Was it clear cut as to how you got the tax credit for the ChargePoint HomeFlex? I need to talk to my CPA about it.
Super Member
Joined: Jan 2022
Posts: 981
Likes: 555
On TurboTax it was an option, in the special category next to EV's. I simply listed the manufacturer and the price I paid, and TurboTax told me the tax credit I got. For the car, I had to enter VIN, make and model and the tax credit was applied. It also listed the makes and models of EVs which no longer receive credit, which I assume will be larger next year due to the recent legislation.
