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. If during the tax year you convert property used solely for personal purposes to business/investment use (or vice versa), 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. If you report the amount of personal use of the vehicle in your employee’s gross income and withhold the appropriate taxes, enter “100%” for the percentage of business/investment use. Treat vehicles used by your employees as being used 100% for business/investment purposes if the value of personal use is included in the employees’ gross income, or the employees reimburse you for the personal use. If the vehicle is used for both business purposes and personal purposes, determine the percentage of business use by dividing the number of miles the vehicle was driven during the year for business purposes or for the production of income (not to include any commuting mileage) by the total number of miles the vehicle was driven for all purposes. The following additional requirements must be met to qualify for the credit.Įnter the percentage of business/investment use.Įnter 100% if the vehicle is used solely for business purposes or you are claiming the credit as the seller of the vehicle. The IRS will not attempt to collect any understatement of tax liability attributable to reliance on the certification as long as you acquired the vehicle on or before the date the IRS published the withdrawal announcement. If you acquired a vehicle and its certification was withdrawn on or after the date you acquired it, you can rely on such certification even if you had not placed the vehicle in service or claimed the credit by the date the withdrawal announcement was published by the IRS. If, however, the IRS publishes an announcement that the certification for any specific make, model, and model year vehicle has been withdrawn, you cannot rely on the certification for such a vehicle acquired after the date of publication of the withdrawal announcement. The manufacturer or domestic distributor should be able to provide you with a copy of the IRS letter acknowledging the certification of the vehicle. Generally, for qualified plug-in electric drive motor vehicles and qualified two-wheeled plug-in electric vehicles, you can rely on the manufacturer’s (or, in the case of a foreign manufacturer, its domestic distributor’s) certification to the IRS that a specific make, model, and model year vehicle qualifies for the credit and, if applicable, the amount of the credit for which it qualifies.
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