The new Founders Series Tesla Roadster cost 250,000, and we know that in CA the taxes and registration are about 22K, but what if you get 100% discount on it? Are there any taxes? How will the IRS handle it?
That’s what I hope to answer here today, for those of you interested, and of course selfishly because I am in this boat currently…
## 2 ways of Calculating Roadster Taxes
* Gambling Winnings
* 1099 Income
## Gambling Winnings
* Taxable like income
* 24% based on amount for married filing jointly
* 60,000 total
Likely won’t be this because it wasn’t a drawing or anything, I earned the discount by referring people, so instead, it’s probably option 2
## 1099 Income
* Added to my regular income
* So let’s assume I make 100K, this brings my annual total to 350K
* 32% rate in that bracket
* 80,000 total (including regular taxable income
* Can write off things against it
If you compare this to going to a car dealer and haggling down a better price, you didn’t do anything to “earn” that discount so it’s not taxed as income.
I know Tesla want to help those of us earning a free roadster so maybe they’ll come up with another way my accountant and I haven’t thought of.
The key, as I understand it, is that if they take a deduction on it, then they have to issue some sort of statement for us that treats it as income.
Bottom line I’m thrilled to have the opportunity to own a new roadster, but depending on how they work it I bet a lot of folks will have a hard time swallowing that tax bill.
## What do you think?
* Is the new Roadster worth it?
* Will Tesla find a way?
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