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I am selling our i4 & being used, there is the lack of the tax credit which the buyer wont be able to use. My cost after taxes and fees was $69K, I obviously do not want to lose any money but not looking to make a profit. There is the question how does the tax credit impact the asking price. My understanding is that the tax credit is not refundable, which means you must have federal tax due to take advantage of it. If your tax due is less than the credit amount, you can only claim the credit up to the amount of your tax due so depending on how the tax return works out, I may not be able to claim the entire amount and only a portion.

What is your take on this and the asking price taking into account the fact there is no way to know what the final tax credit will be?

I am posting pictures and full configuration details below as reference and in case someone would like to make an offer:

//MILES//
500

//COLORS//

Exterior - Black Sapphire Metallic
Interior - Black Perforated SensaTec

//M SPORT PACKAGE//
19" M Y-Spoke Bi-Color Black Wheels, Style 859M with All-season Non RFT
Adaptive M Suspension
Aerodynamic kit
High Gloss Fine Wood Ash Grey-Brown Trim
M steering wheel
Shadowline exterior trim
Variable sport steering

//SHADOWLINE PACKAGE//

Extended Shadowline Trim
M Shadowline Lights

//ADDED OPTIONS//
Ambient Lighting
Heated front seats
Iconic Sounds Electric
M Sport Package
Shadowline Package
Wireless Device Charging
Tinted Windows

//STANDARD FEATURES//
Active Driving Assistant
Active Protection
Alarm System
Auto-dimming interior and exterior mirrors
BMW Navigation
BMW iPerformance Design Elements Deletion
Comfort Access keyless entry
Complimentary Public Charging Program
Connected Package Pro
ConnectedDrive Services
Daytime driving lights
Dual Zone Auto Climate Control
Hi-fi sound system
Mobility Kit
Park Distance Control
Power Front Seats
SensaTec Dashboard
SiriusXM Satellite Radio with 1-year subscription
Storage package
Tire pressure monitor
Universal garage-door opener
Widescreen Display
iDrive Controller non-touchpad


Wheel Tire Car Vehicle Sky


Car Vehicle Grille Hood Automotive lighting


Grille Vehicle Automotive lighting Hood Car


Tire Wheel Car Vehicle registration plate Vehicle
 

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2023 M sport, Black Sapphire Metallic and most of the bells and whitsles.
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107 Posts
Have received any inquiries yet. You must have. If our car was'nt coming in OCT I would have jumped on this car. Good luck to you.
 

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713 Posts
Curious as to why you're selling?
 

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I am considering selling my i4 & being used there is the lack of the tax credit which the buyer wont be able to use. My cost after taxes and fees is $69K, I obviously do not want to lose any money but not looking to make a profit. There is the question how does the tax credit impact the asking price. My understanding is that the tax credit is not refundable, which means you must have federal tax due to take advantage of it. If your tax due is less than the credit amount, you can only claim the credit up to the amount of your tax due so depending on how my tax return works out, I may have only been able to claim zero to a portion.

What is your take on this and the asking price taking into account the fact there is no way to know what the final tax credit will be?

I am posting pictures and full configuration details below as reference and in case someone would like to make an offer:

//MILES//
500

//COLORS//

Exterior - Black Sapphire Metallic
Interior - Black Perforated SensaTec

//M SPORT PACKAGE//
19" M Y-Spoke Bi-Color Black Wheels, Style 859M with All-season Non RFT
Adaptive M Suspension
Aerodynamic kit
High Gloss Fine Wood Ash Grey-Brown Trim
M steering wheel
Shadowline exterior trim
Variable sport steering

//SHADOWLINE PACKAGE//

Extended Shadowline Trim
M Shadowline Lights

//ADDED OPTIONS//
Ambient Lighting
Heated front seats
Iconic Sounds Electric
M Sport Package
Shadowline Package
Wireless Device Charging
Tinted Windows

//STANDARD FEATURES//
Active Driving Assistant
Active Protection
Alarm System
Auto-dimming interior and exterior mirrors
BMW Navigation
BMW iPerformance Design Elements Deletion
Comfort Access keyless entry
Complimentary Public Charging Program
Connected Package Pro
ConnectedDrive Services
Daytime driving lights
Dual Zone Auto Climate Control
Hi-fi sound system
Mobility Kit
Park Distance Control
Power Front Seats
SensaTec Dashboard
SiriusXM Satellite Radio with 1-year subscription
Storage package
Tire pressure monitor
Universal garage-door opener
Widescreen Display
iDrive Controller non-touchpad


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You must own the car at the time you claim the tax credit, when you file your taxes next year. The buyer will also not be able to claim the federal credit as it’s a used car. If you don’t sell it you will get full tax credit if you earn above approx. $75k and don’t have any other significant credits (that’s a super oversimplification of how it works but should give you a general idea).
 

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You must own the car at the time you claim the tax credit, when you file your taxes next year.
False. Last year I bought a Mach-E and sold it the same year, got the tax credit.
 

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2022 Tesla Model 3 - for now
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@Fayt349, the car was purchased for the wife and she is not super happy with the size and wants something roomier to get the kid around.
Therein lies a significant problem with buying cars unseen. If I had gotten to test drive the TM3, I would never have ordered one.
 
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@Fayt349, the car was purchased for the wife and she is not super happy with the size and wants something roomier to get the kid around.
I wouldn't expect someone to pay the taxes and fees you incurred. The buyer will have their own tax bill. With the car industry being in strange times you may get close to MSRP but in my mind a used car is a used car. Just saying. Good luck. It's a sharp looking car.
 

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False. Last year I bought a Mach-E and sold it the same year, got the tax credit.
The fact that you received the tax credit means nothing. You can claim many credits on your taxes and you’ll get it, doesn’t mean your eligible to get it. If you get audited and you bought and sold the car in a short period of time you’ll have to prove how you met the following qualifying criteria of the tax code:
  • You did not buy the vehicle with the intent to resell it.
The best way to demonstrate this is to own the car at time of submitting taxes. Good luck trying to debate with IRS if you bought and sold EV within a couple months and then still claim the credit.
 

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The fact that you received the tax credit means nothing. You can claim many credits on your taxes and you’ll get it, doesn’t mean your eligible to get it. If you get audited and you bought and sold the car in a short period of time you’ll have to prove how you met the following qualifying criteria of the tax code:
  • You did not buy the vehicle with the intent to resell it.
The best way to demonstrate this is to own the car at time of submitting taxes. Good luck trying to debate with IRS if you bought and sold EV within a couple months and then still claim the credit.
Actually, you do need to be the owner of vehicle when you claim the credit…. Here are the requirement from IRS…

The following requirements must be met to qualify for the credit.
  • You are the owner of the vehicle. If the vehicle is leased, only the lessor and not the lessee, is entitled to the credit.
  • You placed the vehicle in service during your tax year.
  • The vehicle is manufactured primarily for use on public streets, roads, and highways.
  • The original use of the vehicle began with you.
  • You acquired the vehicle for use or to lease to others, and not for resale.
  • You use the vehicle primarily in the United States.
 

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The fact that you received the tax credit means nothing. You can claim many credits on your taxes and you’ll get it, doesn’t mean your eligible to get it. If you get audited and you bought and sold the car in a short period of time you’ll have to prove how you met the following qualifying criteria of the tax code:
  • You did not buy the vehicle with the intent to resell it.
The best way to demonstrate this is to own the car at time of submitting taxes. Good luck trying to debate with IRS if you bought and sold EV within a couple months and then still claim the credit.
"Best way to demonstrate this"

It's not the only way, and I've got lots of ways to prove it lol. I'm not worried anyways.
 

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"
The following requirements must be met to qualify for the credit.
  • You are the owner of the vehicle. If the vehicle is leased, only the lessor and not the lessee, is entitled to the credit.
  • You placed the vehicle in service during your tax year.
  • The vehicle is manufactured primarily for use on public streets, roads, and highways.
  • The original use of the vehicle began with you.
  • You acquired the vehicle for use or to lease to others, and not for resale.
  • You use the vehicle primarily in the United States.
"

I did all of these lol. Like I said I'm not worried.
 
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