Glossary

Form 8911 – Alternative Fuel Vehicle Refueling Property Credit

What is Form 8911 - Alternative Fuel Vehicle Refueling Property Credit?

Form 8911 is an IRS tax form that individuals and businesses use to claim the Alternative Fuel Vehicle Refueling Property Credit. This credit helps taxpayers recover some of the costs associated with purchasing and installing equipment used for refueling vehicles that use alternative fuels like electricity, natural gas, and hydrogen.

Related Tax Concepts and Terms

It’s important to know how the Alternative Fuel Vehicle Refueling Property Credit fits within the larger tax landscape. Here are some related concepts:

Tax Credits vs. Tax Deductions: A tax credit like this one directly reduces your tax bill, while a deduction only reduces your taxable income. A credit usually provides more tax savings for the same amount of expenses.
Energy Tax Credits: The Refueling Property Credit is part of a group of energy-related credits that help people adopt cleaner energy technologies. These credits are always changing, and understanding the current regulations is important.
Form 1040: The tax form that individual taxpayers will use to claim the credit along with their annual return.
Qualified Property: The specific type of equipment that is eligible for the tax credit. Understanding the specific requirements for qualified property will be helpful when planning to take the credit.
Non-refundable Credit: Meaning that the credit cannot reduce your taxes below zero. Any unused credit is not refunded to you in cash.

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