BROKE!!! Tesla Roadster Taxes May Kill My Chance of Owning One
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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